SYA Chart, page-1579

ASX Monday blues

Yes SYA gained 3c to finish on 35.5c. Our volume was very good, just over 266m shares traded. This was the highest volume in nearly 4 months. A very strong performance today when many other shares were tentative. Looks like its ready for a new high soon.

ASX Li stocks inched marginally forward. Of the 54 stocks that I track, average gain was 1%.

On Friday US Li stocks were ahead as well, gaining average 2%, ASX was slightly behind.

What next -

ASX indices for third day in a row kept the momentum with US indices. Though US indices rose more, ASX still managed just over 1%. But on Friday, the resource stocks I follow did not have big gains and ASX resource stocks too were in a similar state. This has been a pattern observed for a number of months now, on Monday's ASX stocks are very tentative and it was evident today.

Today is a crucial night on the US markets. No major announcement today, but we have CPI data tomorrow. SP 500 has for now well above 3900 mark, at 4067 and in sight of 50 day moving average and next level around 4120. From a very bearish outlook just a week back, most analysts have turned at least neutral, if not positive - for the short term. Still bears are very hopeful.
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So what will happen tonight? US Futures are flat at this stage. Asian markets did very well, all in green and many gaining over 1%. Cryptos have made some good gains in last few days, but were tentative today in anticipation of what will happen tonight. Still Bitcoin around 21.7k, well above 19k range it was playing few days back. Volatility index VIX has fallen in the last few days, now at 22.79, we want it under 20. US markets had a big Friday and gains in last 3 days. Its been a while we have had 4 green days in a row. Probability is for a flat (slight red/green) today, possibly swinging both ways. But things have started looking up, it may do another good green before CPI data tomorrow. Will that happen? Lets hope so. All the best.