XJO 1.34% 7,971.1 s&p/asx 200

In America: [IMG] Indices finished well off their lows for the...

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    In America:


    Indices finished well off their lows for the day. DJ +0.11%, SP500 +0.03%, Nasdaq -0.22%, NYA +0.27%, Russell2000 -0.24%.

    XLF (Financials) down -0.11%



    SP500:



    Heiken-Ashi candle for today is indecisive. Indicators are bearish. SP500 remains in a sideways trend caught between overhead resistance and the 13-Day MA. Watch which way this breaks out of that bind.

    Australia has a weak negative correlation with the broad American market (Correlation Coefficient -0.48). The commodities pricing helps a little but the major American indices are not much assistance.

    Commodities:

    DBC +0.06%. Energy +0.53% Industrial Metals +0.06%. Copper Producers ETF was down -0.61%. Gold +0.02%. Iron Ore +0.4%.

    Nothing much there for Australia on Monday. Energy could be bottoming out. That's about the only positive (weak as it is).

    RB.
 
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