Senior Health and Fitness Wednesday, page-7

In Australia yesterday:



XJO was up +0.19% after being in negative territory early in trading. This bullish reversal provides some hope that we are seeing a bottom in our market. Big banks did well: ANZ +0.76%, CBA +0.7%, NAB +1.57%, WBC +1.03%. The daily candles for NAB and WBC both show bullish engulfing candles. Coming at the low ends of long downtrends, those are good positive results.

In America:

DJ -0.24%, SP500 -0.12%, Nasdaq -0.11%, NYA -0.26%, Russell2000 -0.8%. Last week, the American market had a good run, so it's not surprising we're seeing a little weakness.

Financials were weak in America (-0.68) after rumours of problems in European banks (particularly Italy). Whether or not that will flow on to Australia is still to be seen. (See below regarding Westpac overnight in the U.S.)

SP500:



SP500 had been up seven days in a row. That's a rare bullish stretch. The day after Memorial Day has a history of being weak. I wouldn't be surprised to see a test of the old resistance level as support.

Commodities:

DBC -0.81%. Energy continues to fall -0.89% Industrial Metals -0.56%. Copper Producers ETF was down -0.56%. Gold -0.33%. Iron Ore -0.1%.

Despite the good rise in Westpac yesterday (1.03%), it was down in America last night (-0.22%). The Ozzie dollar wasn't a factor as it was up +0.21%. That suggests the jitters about the banks in Europe will flow on to us today.

I expect we'll be flat today.

RB.