S&P up modestly. NASDAQ higher Highlights for the day NASDAQ up for the sixth time in seven days S&P index falls for the second consecutive day Russell index jumps 1.51% new highs at 76. New lows 80 Dow down for the second consecutive day NASDAQ rebounds after its worst day since May healthcare sector on
Technical Analysis
Down $0.26 or -0.36% The price of WTI crude oil futures are settling at $71.65. That is down $0.26 or -0.36%. The high price today reached $72.33. The low price extended to $71.08. Looking at the hourly chart below, the price low did extend below the 100 hour moving average (blue line in the chart
No record closes for major indices The major US indices have snapped their five day winning streak ahead of the key earnings including Alphabet, Apple, Microsoft, AMD, Starbucks. Microsoft is trading down $3.11 at $285.94 Apple is trading down $2.42 at $146.57 Google is trading down $-48.99 at $2631.71 AMD is trading down $-0.92 at
USD/CNH breaches the 6.50 barrier The high today hit just over 6.52 as the offshore yuan falls to a low last seen since April against the dollar, hurt by the equities selloff in Hong Kong and China to start the week. The sharp move in the yuan is likely the cause for some extended moves
The price cracks back below 1.18019 level The EURUSD has just broken back below a swing area between 1.18019 and 1.18043. Recall from last week that area stalled rallies on July 19, July 20, July 21. On the the ECB decision day on July 22, the volatility took the price above and below the area in what was a
USD/JPY falls to a low of 110.15 on the day The drop brings the pair towards a test of the 100-hour moving average (red line) @ 110.14 now, with further support seen closer to 110.00 and the 200-hour moving average (blue line) @ 110.04 as the yen stays more bid in European trading. This comes
Buyers come in against the 100 hour moving average in the North American session The USDCHF support/resistance levels have now been defined in what has been an up and down trading session today. The pair is higher on the day, but there has been a number of up and down swings. The last moves first saw the price move to
Ups and downs continue in the pair. Well, I could continue to use the same title in the afternoon update for the pair. In the North American session, the price moved higher but continue to stall ahead of its 100 hour moving average at 1.17821 currently (blue line in the chart above). The move back to the downside reached just
Dow is above its all-time high close but below its all time intraday high The NASDAQ and S&P are on track for record closes today. The Dow is also above its all time high close and also just above the 35000 level. The NASDAQ is currently up 156 points or 1.06% at 14884. The high price reached 14845.40. Its
Big earnings week next week The major indices are closing at record levels. Dow 238.34 points or 0.68% at 35,061.69. The previous record close was at 34987 S&P rose 44.33 points or 1.02% at 4411.81. The previous record close was at 4384.64 Nasdaq rose 152.39 points or 1.04% at 14,836.99. The previous record close was at 14733 Russell
The pair finishes higher on the week I love a dragon fly doji like the one on the AUD/JPY chart this week. It’s a classic sign of uncertainty and a potentially violent reversal. The week started with lockdowns in Australia and broad risk aversion but it’s ending with the S&P 500 at all time highs.
The market is expecting Intel will report earnings after the close. The chip manufacturer has been under pressure as AMD and Nvidia “chip” away at their business. They have also been besieged with manufacturing problems. The new CEO Gelsinger is looking to turn the manufacturer around via a large infrastructure investment, but that takes time and the market
The 200 hour MA was broken earlier in the NZDUSD but the break failed. The NZDUSD – like some other pairs today – are experiencing up and down price action. The price did run higher early in the NY session to new session highs. However, the move above the 200 hour MA could not be
GBP/USD is up slightly to 1.3730 to start European trading Invest in yourself. See our forex education hub. Things were looking ugly for cable at the start of the week but they are turning around now, after support near the 4 February low @ 1.3566 held. The low yesterday touched 1.3572 but it was enough
The 200 hour MA is stalling the rise The NZDUSD – like the USDCHF – is trading between the 100 hour MA below at 0.69559 and the 200 hour MA above at 0.69737. The current price is at 0.6965. Trading above the 100 hour moving average tilted the bias little more to the upside, but holding under the
Commodity currencies lag on the day The dollar is holding slight gains now as it advances to a session high against the major currencies bloc. Overall ranges for some pairs are still light but we are seeing them stretched out a little going into European morning trade. EUR/USD is down 0.1% to 1.1763 while GBP/USD
The USDCAD is moving away from the floor near 1.2730. In an earlier post, I commented on the 1.2730 floor level that was developing in the USDCAD chart. That level was a corrective floor yesterday and also stalled declines during the Asian and North American session today. The price has subsequently broken below that level and stay below the level. The momentum is increasing
It is not a good look on the charts to say the least Cable is down to a low of 1.3650 to start European trading as the dollar holds firmer once again but the technical significance of the drop is starting to reveal itself. The pair now is breaching the double-bottom from the March and