S&P/ASX 200 (ASX:XJO) - Weekend chat for the BEARZ - 15/16 Aug, 46570627, page-11 - HotCopper | ASX Share Prices, Stock Market & Share Trading Forum

Originally posted by redbacka: ↑

Sat. a.m. 15/8/20. NY stocks mixed. XJO up.

Yesterday in Australia:

XJO up +0.58%.

XJO remains in its sideways consolidation, but so close to breaking out to the upside. It continues to hold above the Trigger Line - the 8-Day EMA and just below resistance of the 200-Day SMA. It's been stuck there for the past four days. A break higher would see much higher results.

Overnight:

Dow Jones +0.12%. SP500 -0.02%. Nasdaq -0.21%. Small Caps +0.04%. Banks +0.84%.

The three major indices didn't make any significant changes and are consolidating at their highs.

The result in the Banks is favourable for our banking sector on Monday.
SP500:

Like the XJO, the SPX is bobbling just below significant resistance - in its case, just under horizontal resistance made by the all-time high set back in February this year. It remains above its Trigger Line - the 8-Day EMA.
The current trend remains up which suggests the SP500 will break to the upside.

COMMODITIES:
Commodities Index flat 0.00%. Base Metals continues to hold above the 20-Day SMA +0.41%. Energy flat 0.00%. Gold down -0.43%.

Investor Sentiment:
Investor sentiment remains bearish at -12.1, which is bullish for stocks.

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Ye been in a strange flat/triangle consolidation/correction for a while now. Usually followed by a swift move to the upside. But move to the upside from this should be the last move before it comes down.