Well I thought I would do the cranker early, as being in WA you...

Well I thought I would do the cranker early, as being in WA you lot are up a lot earlier than me.

So the markets in Europe look a little sad and I think we may have a down day on Wall Street, are we heading back down or is this just a bump in the road. I guess a red day will bring back our local hero Martis, with his pointy down charts ;-)



So NSW are now the top economy in Australia ,well done.... WA is no longer the mining giant it was, it will come back it always does.




Gold is having a lovely run, back to $1300 ?

Well hope you are all enjoying your night , I might order a Pizza this bucks party hangover has not been kind to me today.


;-)
IBM affects DJIA.  Morning Java, Tuesday, 21 October, 2014

Nasdaq Composite +1.35%, New York Composite +0.75%. Russell 2000 +1.17%. DJ Industrial +0.12%. SP500 +0.91%.



All indices except the Dow Jones Industrial Average were up strongly. IBM which is heavily weighted in the DJIA affected results in that index. We rarely see a major discrepancy between the DJIA and SP500, but it did happen today. DJIA did, however, show good intra-day buying. So all around we had a bullish scenario today.

Trin on the Nasdaq was 0.45. That’s very low and looks far too exuberant. The last time we saw a reading like that was on 9 April – and the market fell >2% the next day.

Here’s the detailed chart for the SP500:



Three days up and getting close to an important S/R level.

Apple Inc. reported after-market and shares are currently up about +1.5%. So a bullish breach of that S/R level looks possible. Indicators have plenty of room to move topside.

A solid test might occur when the SPX reaches the 20-Day MA.

Commodities:



CRB Index down -0.55%, dragged down again by the Energy Group. Industrial Metal Group was also off with Copper down -1.2%. Iron Ore was up +0.6%. It currently appears to be consolidating above the $80 level – it finished at $81.2. GLD +0.68%. U.S.$ -0.35%.

Oz Stocks in NY:

BHP +0.47%. Rio +0.54%. Westpac +1.42%. ANZ +1.63%. EWA +0.62%. Ozzie Dollar +0.48%. Discounting for the Ozzie Dollar, those results are mixed with the Banks doing well and the Miners so-so.

It’s difficult to see how we won’t be up today. That will be six days up in a row. That’s not common. Some of the miners might struggle and we could see some profit taking after an initial surge.

Redbacka