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7,629.0 s&p/asx 200

Weekend Charts and Chat. 30/31 May, page-2

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redbacka

9,377 Posts.

4951

30/05/20

12:37

Post #: 44935591
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Originally posted by redbacka: ↑

Sat. a.m. 30/5/20. Mixed results in NY after Trump rattles sabre (quietly).

Yesterday in Australia.

XJO was down yesterday -1.63%.
The short-term and medium-term trends are bullish. The long-term trend is still in doubt.
Friday's action looks bearish but there's plenty of near-by support. Stay with the trend.

Overnight:Indices were generally weak for most of the session until Trump spoke about China, and buying kicked in to make most of the indices look respectable.

Dow Jones flat -0.07%. SP500 +0.48%. Nasdaq +1.29%. Small Caps -1.03%.

BKX (Banks) down -2.24%. That doesn't augur well for our Banks on Monday.

SP500:

SP5500 remains above the 200-Day MA.

Short-term and medium-term trends are bullish. Stay with the trend.

Commodities:

Commodities Index +1.73%. Base Metals +2.6%. Energy +2.58%. Gold +0.74%.
Investor Sentiment:
79% of IG clients are short the SP500. As a contrarian signal, that is bullish. Investor sentiment data isn't a great timing device, but something to keep in the background.

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XJO Value at posting: 5,755.7
9 Upvote

0 Great analysis

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