Technical Analysis

Dow industrial average down -2.03%. All 3 of the major indices closed down around 2% on the day.  The Dow, S&P, NASDAQ each had their worst week since October.  The indices had there worst month since October.  The NASDAQ post the 3rd straight monthly gain.  The Dow and S&P closed down for the 1st month

NASDAQ index funds sellers near moving average resistance The US broader indices are trading to new session lows. The NASDAQ index just reached 13122.11. That is down 1.6% on the day.  For the S&P index, it just moved below its 61.8% retracement 3726.03 of the move up from December 20. It trades at its lowest level since January

The risk rout calms down ahead of North American trading The greenback continues to lead the charge in the major currencies space but gains have been trimmed somewhat across the board as risk sentiment exudes some calmer tones. The DAX fell by nearly 2% earlier in the session but has trimmed losses well beyond opening

US initial jobless claims 847K vs. 875K estimate Coming Up! Title text for next article LON SDNY+11 NY -5 TYO +9 GMT Technical Analysis US initial jobless claims and continuing claims initial jobless claims 847K vs. 875K estimate. Prior month 900K revised higher to 914K four-week moving average 868K vs. 851.7 5K revised number from last

Gold is trading more than 3% lower on the month Barring a monumental comeback over the next two days, that will see gold post a first January decline since 2013 – which wasn’t a good year for the precious metal. Despite the Fed reaffirming that it will maintain its current policy stance for an extended

NASDAQ index -2.0%. S&P index -1.84% The US dollar is rising sharply as stocks slide: EURUSD: The EURUSD the has moved down to a low of 1 point to 060. That is just above the low price from January 18 at 1.20529. The price cracked below its 61.8% retracement 1.21049 and has been freefalling since the stock

HimMajor indices closing near the lows The major US indices are closing lower on the day.  The NASDAQ breaks a 5 day win streak.  The major indices are also closing near the lows for the day. No records after the S&P and Nasdaq after record closes yesterday. The S&P did extend to a intraday record high.

Major indices continue the reversal and trade at session lows The USD has continued its reversal from earlier higher levels. The major indices are all making new session lows. The USD is now the weakest of the major currencies today.    USDJPY: The USDJPY is make and below its 100 hour moving average at 103.66. Bearish the bias increases EURUSD:

NASDAQ index close higher. Down industrial average has a modest decline The US stocks are closing mixed with the NASDAQ index leading the way to the upside. The Dow industrial average fell modestly but closed near the day’s highs. The S&P was in between although it too closed near session highs.  The NASDAQ index closed at

GBP/USD falls from a high of 1.3723 earlier to 1.3668 currently The dollar regaining some poise during the session is pushing cable to fresh lows on the session and notably, testing key near-term levels once again. The drop after failing to hold yet another break above 1.3700 – at least for a comfortable enough period

38 pip trading range today for the EURUSD. Up and Down.  The EURUSD moved above its 200 hour MA yesterday and stayed above that MA level.  On Wednesday this week, the price tried to make a break but failed, and the price fell back but found support against the underside of a broken trend line. 

Major indices down around -0.3% to -0.6% in early trading the US stocks opened lower but are seeing some early buying.  A snapshot of the market currently shows: S&P index -16.7 points or -0.43% of 3836.20. The low reached 3833.24 NASDAQ index -42 points or -0.31% 13489.30. The low reached 13463.66 Dow industrial average -175 points or -0.56% the

But retesting the MA levels as stocks rebound off the lows The AUDUSD trended lower as stocks headed lower into the NY session. There were also concerns in the Asian market that Hong Kong would impose lockdown restrictions as a result of covid outbreak. The price move to the downside worked it’s way back below

Price is trying to stay above the 100/200 hour MAs Yesterday, the USDCAD moved to in another low going back to 2018 but in the New York afternoon session was able to extend back above a swing area between 1.2623 and 1.26294. In a post yesterday afternoon, I outlined that if the price could stay above that level, there

There is more work to do if the buyers are to take more control In a post yesterday, I spoke to how the EURGBP had moved below key support from the daily chart at the 50% of the trading ranges since December 2019 at 0.88788, and a key swing area between 0.88603 and 0.88766. The

Russell 2000 index also lower The US stocks are closing mixed with the Dow down, the S&P near unchanged and the Nasdaq higher. The small cap Russel 2000 also closed lower on the day.   All indices closed at records yesterday. The close higher in the S&P and NASDAQ are therefore new record closes today.  The final numbers are showing: S&P

German DAX -0.1%. France’s CAC -0.4% The European major indices are ending the day lower after failing to hold earlier gains. The provisional closes are showing: German DAX, -0.1%. The high reached +0.75% France’s CAC, -0.4%. The high price reached +0.67% UK’s FTSE 100, -0.3%. The high price reached +0.54% Spain’s Ibex, -0.8%. The high

Dollar is lowest vs the NZD and AUD The USD is heading lower and is the weakest of the majors in early trading today.  The pair is the weakest vs the NZD (up 0.31%) and AUD (up 0.27%) which are trading to new session highs as I type. The greenback is also higher vs the