Technical Analysis

The major stock indices are giving up their gains. Dow is now down -82 points or -0.22% at 37357. The high saw the indes up 183.27 points S&P is up 1.29 points or 0.03% at 4689.80. At session high, the index was up 32.80 points Nasdaq is up 13.6 points or 0.09% at 14524.44. At

The 10-year yield has moved back to the upside with the yield back above 4.0% and up to 4.05%. The high reached 4.10% soon after the jobs report, and then fell sharply to 3.955% at session lows, before starting it’s move back to the upside. Below 4% being rejected. Now with the yield moving back

The USDCAD has seen volatile up-and-down price action today. However, if there is a tilt, the tilt is to the upside as the price is above the 100-hour MA at 1.33214. Staying above that level going forward would keep the buyers more in control. Having said that, there is work to do for the buyers.

The USDJPY has been trending higher over the last few days, and in the process has been able to move above the 38.2% retracement of the trend move down from the November high. That level comes in at 144.698. Above that was the December 19 high at 144.938. The high-price today reached 144.74 and has

The clock is ticking toward the close of the day, and the start of the new trading panel day. Tomorrow, is US non-farm payroll day and the EURUSD traders, are setting up for that event. More specifically, the pair is trading near its 50% retracement level on both the daily and hourly charts. Technically speaking

The AUDUSD moved lower for the 4th consecutive day. In the process, the price will down toward its 50% midpoint of the move up from the December low. A level comes at 0.66975. Low price for the day reached just above the 0.6700 level at 0.6701 and bounced. That bounce moved back up to retest

It’s been a rough start for the tech-heavy Nasdaq index as it fell -1.18% today. That comes after a -1.63% decline on the first trading day of the year (yesterday). Today, the declines were broad-based with the Dow Industrial Average, the S&P index, the Russell 2000, and the NASDAQ all declining by at least -0.77%.

The Nasdaq index is trading back down toward its lows for the day. The index is down -274 points or -1.80% at 14740.31. The low for the day reached 14723.75 today. The fall is the largest decline since October 25. Since that fall, the index had been up for 9-consecutive weeks. Nasdaq index is sharply

The USDs move higher today, has also included a downward run in the NZDUSD. As we head into the Asian-Pacific session, the pair is trading near session lows. It has also broken below the 38.2% retracement of the move up from the December low to the December high. That level comes in at 0.62595. Getting

The strongest to the weakest of the major currencies (2023) As 2023, comes to an end, the CHF is ending the day as the strongest of the major currencies while the JPY is the weakest. The CHF benefitted from flight to safety flows on the US banking crisis and global tensions, and then took a

US 10 year yield below the closing level from 2022 The US 10-year yield is trading at 3.844% currently. That is down 4.0 basis points on the day. The decline today is moving the yield below the closing level from the end of 2022 at 3.886%. The last five trading days have been trading above

SPX yearly Oh to have a time machine. A look at long-term US equities is a humbling exercise. The index started 1994 at 466, and while it suffered a loss that year, it has since risen 10-fold, paying dividends along the way. That’s an incredible 30-year return. Skip ahead to the final trading day of

The strongest to the weakest of the major currencies The CHF is the strongest and the AUD is the weakest as the NA session begins. The USD is mixed to lower thanks to declines vs the JPY and CHF. There are modest gains vs the GBP, CAD, AUD and NZD. Today, US initial jobless claims

US major indices are trading marginally higher in early US trading. Dow Industrial Average is trading up 51.00.16 percent at 37717.80 S&P index is up up 9.28 points or 0.19% at 4790.60 Nasdaq index is up up 25.42.00.17 percent at 15125.42 The Russell 2000 of small-cap stocks is taking a breather today with a decline

The EURUSD is running higher as USD sellers exert their pressure after the weaker Richmond Fed regional index. The EURUSD price action has now moved within a swing area between 1.1095 and 1.11346. It would take a move above that area to increase bullish bias. The next target would come at the March 2022 high

The major European indices have gotten off to a modest positive start in the shortened holiday week of trading. Most of the indices were closed yesterday and also on Monday. Snapshot of the closing levels shows: German DAX, +0.21% France CAC, +0.04% UK FTSE 100 +0.36% Spain’s Ibex +0.10% Italy’s FTSE MIB +0.12% As European

USDJPY falls back below the 200 day MA and 38.2% retracement The USDJPY – over the last 6 trading days – has seen price action trade above and below the 38.2% of the 2023 trading range and the 200-day MA at 142.47 to 142.70 respectively. Yesterday, the price traded the whole day above those levels

The strongest to the weakest of the major currencies The GBP is the strongest and the USD is the weakest as the NA session begins. Admittedly, the changes are relatively modest with the major indices scrunched together. The ranges are also relatively modest compared to the 22 day averages (about a month of trading –