In Australia yesterday:
XJO continues in its sideways trend, down modestly yesterday -0.25%.
Commonwealth Bank yesterday fell -3.87%. That had a negative effect on the XJO Index of -0.35%. So, without the drag of the Commonwealth Bank, the XJO would have been up marginally yesterday.
In U.S.
The “melt-up” in the Dow Jones continues. Now nine days in a row. With an RSI of ~77, this is close to an end point. But, there is no reason why it can’t go above 80. Anything can happen in the markets.
DJ +0.3%, SP500 +0.19%, Nasdaq -0.18%, NYA +0.24%, Russell2000 +0.5%.
Financials +0.67%.
SP500:
SPX up a little +0.19%. That takes it back above the 9-Day EM. The index is in an indecisive sideways trend. All four indicators are flashing ‘sell’ signals. That can happen in a sideways trend. We need to see a bearish trend H-A candle (long blue candle with a flat top) before concluding the trend is down.
Commodities:
DBC +0.2%. Energy +0.5% Industrial Metals +0.18%. Copper Producers ETF was up marginally +0.04%. Gold -0.78%.
Pluses slightly out-weigh minuses in the overnight markets. We’ll probably continue with a range-bound sideways trundle on Monday.
RB
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- XJO Weekend Charting and Chat - 4th August 2017
In Australia yesterday: [IMG] XJO continues in its sideways...
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