Serendipity Friday, page-11

In U.S.

Major indices finished the day sharply lower.  RSI is reading bearish (below 50) on all five indices.  A bearish cross of the 20/50 Day MAs on the Russell2000 has occurred.



DJ -1.24%, Nasdaq -1.94%, SP500 -1.54%, NYA -1.32%, Russell2000 -1.72%.

Financials --1.72%.

In Europe, the Euro Top 100 Index was down -0.61%

SP500:



The SPX down sharply -1.54%.  It was OpEX day today, so plenty of put buyers are happy.
The gap up on 12 July has been closed.  Today's wide-range day looks climactic.  Indicators have set up possible positive divergences.  Look for a narrow range day on Friday.  We then need to see a solid up day to call the end of this fall.

For people wanting a "cause" for today's big fall - there's plenty of options:  terror attack in Barcelona, Mike Pence returning to the U.S. early from overseas (must be some looming disaster?), weak economic reports (industrial production rose less than expected), political instability in Washington (POTUS closing business councils).  And we always have Kim Jong Un to think about.  For the technicians, the gap from 13 July had to be closed.  For the cosmic catalyst watchers, we have a total eclipse of the sun coming in the U.S. on Monday.  There are probably plenty more that I haven't identified.  Take your pick from the foregoing, or add all of the them together - and get gloomy.  

Commodities:

DBC +0.28%. Energy +0.51%  Industrial Metals -2.27%. Copper Producers ETF was down -0.97%. Gold +0.51%.  Iron Ore +5.6%.

Overnight in the US, BHP down -1.72%, Rio down-2.03%, Westpac down -1.8%.

Our market will be well down today, but I'd expect a lot of heroes will be in there buying.   I doubt the fall will be enough to shake our market out of its current sideways range.



Company results from yesterday resulted in the following moves in their stocks:

• TLS -10.62%
• Tatts Group +2.29
• QBE -7.07%
• Wesfarmers +0.29
• ASX +1.42%
• Cochlear +7.17%

RB.