S&P and NASDAQ close at record levels The US major indices had a solid gains today led by the NASDAQ index which increased 1.54%. The Russell 2000 also had a solid gain of near 1.9%. The gains were help by the FDA’s full approval of the Pfizer Covid vaccination. The hope is that those who
Technical Analysis
Risk on flow lifts the AUDUSD back above its 100 hour MA The AUDUSD has been rebounding today after five days of declines last week. That move lower took the price from a Monday high at 0.7372 to a low on Friday of 0.71057 (267 pips in total). Today, the price could not reach the low from Friday (the
Nasdaq up near 100 points now The US stocks are moving higher after trading lower in premarket trading. Feds Kaplan’s comments was the catalyst for the reversal. The US dollar has also reversed with the greenback moving lower over the last few minutes of trading. EURUSD. The EURUSD successfully defended the low from yesterday/low for the week/low going back to November
Major indices close higher. The major European indices have erased earlier declines and are closing higher today. The provisional closes are showing: German DAX, +0.2%. The index was down -0.71% at the lows France’s CAC, +0.3%. The index was down -0.57% the lows UK’s FTSE 100, +0.4%. The index was down -0.39% at the lows Spain’s
The low was at $1770.60 and the high was at $1795.37 The price of gold has consolidated in a up and down trading range this week. The low was reached on Monday at $1770.60. The high was on Tuesday at $1795.37. The close last Friday was around $1778. The current price is trading around $1785. That is in
Stall at the key MA level The GBPUSD trended sharply to the downside yesterday and is modestly lower today. The EURUSD had an up and down day yesterday – closing lower – and is higher today. That price action has been helped by a bid in the EURGBP over the last two days. Looking at the hourly chart,
All 11 sectors higher The major indices all closed higher for the day led by the NASDAQ index which rose 1.17%. All 11 sectors of the S&P are higher indices close near the session highs Dow snaps a three-day losing streak S&P and NASDAQ close up for the second consecutive day major averages post weekly losses Dow
The January/February highs between 1.2669 and 1.2880 were broken earlier, but price has moved back below The USDCAD continued its run higher today with the pair breaking above its 2021 highs between 1.2869 and 1.2880 (from January and February). The break saw increase momentum and the pair moving up to the next target area between 1.2926 and 1.29578 (see yellow area
If these crack, it could get ugly CAD/JPY Through Q2, this was the best trade in the FX market but it’s not so pretty right now. There’s a major head-and-shoulders on this chart and as I write this, it’s breaking through the neckline, which is also a double bottom. This chart is almost too textbook
Sellers lean on first test The USDCHF as seen and up, down and back up day today as the market reacts to the swings and stocks and risk sentiment. The three major indices are now trading in positive territory after opening lower. That has helped to push the USDCHF back higher (less flight to safety flows into the CHF).
A rundown of some of the sore spots The charts aren’t always right but they should never be ignored, especially when so many dominoes are falling together — and just six weeks after the bottom began falling out of Treasury yields. There are still many risk-positive charts out there and many more that are hanging
100 day MA below and 100 hour MA above The USDCHF fell into the European morning session, and the move lower fell below a swing area between 0.91286 and 0.91326. The 50% midpoint of the range for August was also near that area at 0.91296. However, just below those levels sat the 100 day moving average at 0.91255, and traders leaned against
No new records today The major US stock indices all closed lower, snapping the record close string at five. Dow has its worst performance since August 4 S&P has its largest decline in nearly a month NASDAQ posts a two day declinne S&P and Dow snap a five day win streak/5 days of record closes
NASDAQ down 1% in early trading The major indices are lower with the NASDAQ index is down 1%. The Dow industrial average is down close to 300 points A snapshot of the market currently shows: Dow -304 points or -0.83% at 35328 S&P index -34 points or -0.76% at 4446 NASDAQ index -150 points or
RBA minutes due at 0130 GMT AUD/JPY slumped as low as 79.89 yesterday, just above the July low of 79.84. It’s since rebounded 30 pips but remains within the danger zone as we count down to the minutes of the August 3 RBA decision. For me, this chart doesn’t look great. The temptation is to
S&P and Dow closed at record levels on Friday After the Dow and S&P closed at record levels on Friday, the indices across the board are trading lower in early New York trading. A snapshot of the market currently shows: Dow down -227 points or -0.64% at 35288. S&P index -20 points or -0.45% 4447.83
Down -$0.65 or -0.94% The price of WTI crude oil futures settle at $68.44. That’s down $0.65 or -0.94%. The high price reached $69.22. The low price extended to $68.15. The low today was just above the closing level from last week near $67.95. For the week the price moved lower on Monday falling to a low
NASDAQ closes lower for the week The S&P and Dow held on for a record closes but just barely. The S&P closed at record day for the fourth consecutive day. The NASDAQ moved higher in the last minute of trading and it’s second gain in a row. The Russell 2000 fell close to 1%. S&P posted its 48th record close