Dow Bearish, but Mixed results in U.S. on Friday. 23/3/24Dow Jones -9.77%. SP500 -0.14%. Nasdaq +0.16%. Small Caps -1.21%. Regional Banks -2.05%.
Ominous bearish engulfing candles on Dow Jones, Small Caps and Regional Banks.
SP500.
SP500 remains in a strong long-term up-trend.
The two latest narrow range doji candle-sticks suggest indecision and, coming at the top of the trend, suggest a pull-back is in the offing. But - any pull-back has been bought by the "buy-the-dippers" and there is nothing in the chart to suggest anything to the contrary this time.
Commodities.Commodities Index fell back last night. Commodities Index -0.7%. Energy -0.68%. Base Metals -1.27%. Agriculture +0.67%. Gold -0.8%.
Below is a full chart for the Commodities Index.Commodities Index is at a major horizontal resistance level.
When Hull MA13 turns down while Schaff Trend Cycle is in the overbought zone - that's usually a reliable indication of more downside. Commodities Index is heavily weighted to Energy - so we can expect Energy to fall. DZ Stochastic is on a "sell" signal.
Despite the negative leads from the U.S. overnight, Ozzie Futures are on the positive side, +0.09%.
Good luck.
- Forums
- ASX - By Stock
- Indices 18/03
Dow Bearish, but Mixed results in U.S. on Friday. 23/3/24Dow...
-
- There are more pages in this discussion • 2 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add XJO (ASX) to my watchlist
|
|||||
Last
7,988.1 |
Change
-25.300(0.32%) |
Mkt cap ! n/a |
Open | High | Low |
8,013.4 | 8,013.4 | 7,918.9 |
Featured News
XJO (ASX) Chart |