Vanilla XJO Thread, page-616

21/6/25. U.S. markets remain in the doldrums. Australia - ditto.

Dow Jones +0.08%. SP500 -0.22%. Nasdaq -0.51%. Small Caps -0.12%. Banks +0.78%.

SP500

SP500 remains in its consolidation.

Notable last night was the increase in volume - not only in SP500 but also in Dow Jones and Nasdaq. Although movement in the indices remains low - something is beginning to stir undercover. Perhaps next week will see a resolution to the current malaise.

Commodities.

Commodities Index +0.52%. Energy +0.73%. Base Metals +0.35%. Agriculture -1.38%. Gold -0.04%.

Gold is back to its 20-Day MA. We might now see some buying come back into the precious metal.

Yesterday in Australia.

XJO down yesterday -0.21%. STW down -0.3%.

STW remains in consolidation sitting at the 20-Day MA.

The increase in volume in the American indices last night was also evident in Australia yesterday.

Indicators are all sitting on short-term sell markers. But - price action remains the key to the market. Until we see the chart break below the 20-Day MA,
I'd ignore the indicators.

I noted when doing my research that Rio Tinto has set a 52-Week low yesterday. That's often taken as an indication that further downside will occur. (Taken with a pinch of salt.)

Here's the chart for Rio:

Rio has been in a steady down-trend since 16 May. Yesterday saw an increase in volume - the highest volume in at least the past 200 Days. Such volume coming at the low end of an established trend usually means a selling climax. Most retail investors have thrown in their hands. No guarantees - but that suggests the next significant move will be up, not further downside.

Take care.