Markets at indecisive stage - will Friday bounce continue?Yes...

Markets at indecisive stage - will Friday bounce continue?

Yes ESS gained 3c to finish on 49.5c. Our volume was on the lower side of average, just over 1.7m shares traded. I thought we had good solid trading today. After the fall from 60s, it took us sometime - 8 trading days for us to touch 50 again. Another good market day and we should get towards 60 again.

ASX Li stocks made some gains on the back of indices. Of the 54 stocks that I track, average gain was 3%.

What next -

I feel the markets are at a very indecisive stage with no clear direction which way its heading. The wild swing in US indices on Friday is also a reflection of that.

The SP 500 is at 3770 - its practically in no-man's land. It has dropped from 3900 - so bearish and can be considered a downtrend. But we have also risen from 3500, so can still be considered an uptrend of that rise. We need to be above 3720, but hopefully above 3800 to get a positive vibe.

So what will happen tonight? US Futures slightly in red. Asian markets all green, a big rise on HK again - ASX gained 0.6%. Cryptos had made big gains last few days, but have now started giving it up. Bitcoin below 21k - they are losing steam. VIX below 25 - although neutral but can be considered positive. No key data tonight but few Feds will speak - they could provide some twists if market needs a direction. Next major data is CPI on Thursday. So for now the Yields, Dollar Index may drive the markets - along with Technicals and all important Sentiment - which is now on Greed side. An unpredictable night, but stats wise Monday trading in US has been more positive than negative in recent times. Will that continue? Lets hope so. All the best.