The Great Rotation continues in America. Dow up, Nasdaq downDow...

The Great Rotation continues in America. Dow up, Nasdaq down

Dow Jones +0.67%. SP500 -0.31%. Nasdaq -1.09%. Small Caps +0.66%. Banks +1.65%.

Chart for Dow Jones Industrial Average

The Mansfield Relative Strength panel (second bottom panel) shows that the Dow Jones is now out-performing the Nasdaq - rotation out of Tech stocks and into Industrial stocks.

The chart for the Dow Jones is medium term bullish and within a wide trading range. It appears to be headed for Critical Resistance.

The Dow Jones, while the Tech stocks were rampaging upwards, was a better lead for the Australian market than the Nasdaq. XJO should follow the Dow higher today.

Commodities.

Commodities Index +0.8%. Energy +0.87%. Base Metals -0.35%. Agriculture -1.34%. Gold +0.4%.

Energy may get a reprieve today in Oz after yesterday's thumping.

Looking forward to a better day in the ASX today.

Good luck.