The Sky Isn't Falling.... - Thursday, page-3

Strong rebounds around the world. Thursday Morning Joe. 1 October, 2015.

Major Indices, Europe and America

Dax +2.22%. UK +2.59%, France +2.57%, Italy +2.74%. The strong rebound which began in Australia and other east Asian markets yesterday rolled around the world and lifted the European markets and then the Americans.




DJ +1.47%. SP500 +1.91%. Nasdaq +2.28%. New York Composite +1.85%, Russell2000 +1.55%.
NYSE H/L Ratio came in at just 2.3%. Nasdaq H/L Ratio was 10.2%. We need to see much better figures than that before throwing our hats in the air.

Here’s a regular candle stick chart for the SP500:



Today’s chart shows a three-day candle reversal pattern. Dynamic Zone RSI has crossed back above its lower band and its 5-Day MA. There should be more upside in this - and a test of the recent highs seems likely, i.e., more basing action.

US$ and Hard Commodities:



U.S.$ was up +0.6%. Base Metals +1.65%, Energy -0.59% and Gold -1.04%. Gold seems to be heading back to the lower end of its trading range. Iron ore fell -0.6% to finish at 54.3.

Ozzie Dollar +0.43% and finished unchanged at 70.15.

EWA (ETF for Ozzie stocks on the NYSE) was up +2.46%.

Other Ozzie Stocks in New York: BHP +2.9%, Rio +3.58%, Westpac +2.03%, ANZ +2.81%, Resmed +0.67%, Newscorp +3.22%.

In Australia today, we should continue with up side momentum, but could get derailed by a slew of important economic news: house prices, job vacancies and PMI.

RB.