In America: [IMG] Indices were well down early in the session,...

In America:



Indices were well down early in the session, then recovered to finish flat. DJ -0.7%. SP500 +0.05%. Nasdaq -0.17%, New York Composite -0.08%, Russell 2000 -0.17%. Indices are tracking sideways with no clear trend.

NYSE NewHigh/NewLow Ratio has weakened a little to finish at 76.2%. New Lows rose to 29. That’s not especially threatening.

SP500:



This session was a narrow range day, still within the range of Wednesday. Intra-day buying helped the index to a marginally positive finish. 50-Day MA continues to act as resistance. The 20-Day MA is acting as support. A break through one of those should provide direction for a few days. Indicators are indecisive lying mid-range. The two Stochastic indicators have changed from a "buy-the-dip" setting to an indecisive setting. It looks like the Friday Jobs Report is once again going to determine direction in the short term.

Commodities:



DBC, the Commodities Index tracking ETF, up +0.2%, continuing to get a boost from a stronger Energy +0.94%. DBC has broken decisively out of the symmetrical triangle. It has now hanging at the first line of horizontal resistance/resistance. Further upside to the major horizontal resistance level (blue line) seems likely.

The two Stochastic indicators suggest that any dip will be bought.

Industrial Metals -0.22%. Gold-0.93%. Iron Ore - no change%.

Given the flat finish in America and weaker metals, we’ll probably have a mildly negative day today, taking the shine off yesterday's positive result.

RB.