Weekend Charting and Chat, page-3

In Australia yesterday:



XJO up modestly +0.37%. The trend is up but not very strong.

Financials (XXJ) up +0.5%. Miners down -1.53%.

XXJ:



The short-term and medium-term trends in XXJ are up, and, most importantly, holding above the 200-Day EMA.

XMM:



The short-term and the medium term trends in XMM are down, although the trajectory is fairly low suggesting a period of consolidation rather than the start of something more severe. XMM is, however, finding resistance at the 50-Day MA. That could bring sellers out of the wood work.

In America overnight:



It was options expiry in America last night. That usually results in a narrow range session. This session didn't disappoint.

Dow Jones -0.03%. SP500 -0.09%. Nasdaq -0.07%. Russell 2000 -0.26%.

SP500:




The trend channel has flattened under the influence of Options Expiry.

Indicators have turned down. The current rally has had a fair go and similar in range to the previous rallies since early April.

The SP500 is in a well defined bullish channel. Buy the dips.

Commodities:


Base Metals +1.42%. Energy 0.49%. GLD 0.65%. Copper Miners +0.74%.

Resource prices are starting to show some improvement. Still early days. But, in the short term, they should be positive for our market early next week.

RB