Long Weekend Charting and Chat - 5th June 2015, page-8

American Major Indices

Jobs Report was better than expected. Bonds sold off. Stocks? Drrrrrrrrrr. Not much happened - except in the small caps which were up strongly. DJ30 -0.31%. SPX -0.14%. Nasdaq +0.18%. NY Composite -0.19%. R2K +0.78%




Here’s the detailed chart for Dow Jones Industrial:




DJ30 down modestly -0.31%. It remains in its long term sideways consolidation. It's now down to support. If we get a bounce here - then the pull-back is probably over.

Commodities:



US$ up, +0.88%, but showed some intra-day selling - which might be the reason why DBC,DBB and DBE were all up. DBC -+0.46%. Base Metals +0.33%. Energy +1.12%. Those three indices all showed intra-day buying which melds with the idea that intra-day selling occurred in the currency. GLD -0.53%.

Here's the GLD chart:




There's still no sign that GLD is about to begin a seasonal rally. This might have to go a lot lower yet before we see sings of a bullish move. It is now oversold, but I'd like to see see bullish divergences on the indicators before thinking that we're going to see some positive action in GLD.

Oz Stocks in NY:




BHP -0.44%, Rio -0.48%. Westpac -0.29%. ANZ -1.7%. Resmed +0.12%. Woodside -0.15%. EWA -0.56%. AUD -0.79%.

Discounting for the fall in the Ozzie Dollar, those results except for ANZ look fine.

RB