SP500 +0.15%, Dow Industrials +0.2%, Nasdaq 100 +0.43%, Russell 2000 +0.89%, Transports +0.2%.
A choppy night on the American market. Indices had an upward bias, with the Small Caps (Russell 2000) quite strong. It has now bounced off resistance. That’s positive. But the chart still looks medium term bearish.
Here’s the detailed chart for the SP500:
Not much to say. The Index has been chopping around since late February. It had a small break higher in early April, which has since held as resistance. It had a bigger break lower after that which looked dangerous, but since then, the Index has returned to the sideways range. We have to wait and see.
Commodities:
CRB broke lower, down -0.51% and now below the 50-Day MA. Industrials Metals had a modest up day +0.28%, while Precious Metals flat at -0.02%.
BHP on the NYSE down -1%. Westpac down modestly, -0.27%. EWA down a little -0.15%. Ozzie Dollar down a little -0.11%.
Again, there’s nothing much of a lead in any of that. The BHP figure looks like catch-up with Australia yesterday. Wait.
Full Weekly Report tomorrow.
Redbacka
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