Tuesday 10-July-2018 - Football's coming home, page-3

Overnight:

Whooshka!


Dow Jones +1.31%. SP500 +0.88%. Nasdaq +0.88%. Russell 2000 +0.62%.

America continues its strength based on good employment numbers from Friday. RSI on all four indices are now above their mid-point of 50.

SP500



SP500 is now back to major horizontal resistance which has foiled upside movements since late February. A move above that should see a test of the all-time high set in January.

Indicators are not yet overbought so a topside break-out seems likely. The only negatives are the divergences setting up on the indicators. But until we see a bearish candle those negative divergences are only possibilities. Stay with the trend.

Commodities:


Commodities were positive. Base Metals +0.24%. Energy +1.13%. Gold _0.24%. Copper Miners +2.05%. Iron Ore +1%.

Our market should be strong today. American Financials Index was up >2%. If that’s any sort of guide our banks should do well today and resources look likely to be very strong on the back of the strong Copper Miners result in America.

RB