Temptation and Conscience - Wednesday, page-9

American Major Indices
America: Dow Jones +0.53%, SP500 +0.61%, Nasdaq +0.11%, New York Composite +0.43%, Russell2000 +0.09%. But look at the length of those lower tails on the session candles. This is one of the biggest reversal days we've seen for a long time.




Here’s the detailed chart for the DJ30:


DJI is now marginally above resistance. The long, long tail suggests we'll see more upside. If tomorrow is up, the current threat to the American market is probably over.

Commodities:



UUP was up +0.32%, but showed intra-day selling. Commodities, generally down, showed intra-day buying. Energy did best +0.7%. Yesterday's big fall of more than 6% and today's bullish reversal suggests we may have seen a selling climax. Base Metals -2.1%. Iron Ore -4.6%. Gold down (-1.16%).

At the time of posting (just after the opening), the Australian market is well down with BHP and CBA down more than -1%. Let's see where it finishes.

RB.