Technical Analysis

Let’s find out who has the upper hand Wild price moves are no stranger to crypto traders and it looks like the volatility is back. After a one-way move from $1200 to just shy of the 2017, crypto has tumbled today. The alts have been particularly hard hit but bitcoin is also down 12% to

Oil up 37% from the election-night lows What a turnaround in oil from a month ago. It’s up 37% since election night and 12% in a week as it breaks out to the highest since March. Today’s price action though looks like a bit of a short-term blow off. It spiked to $46.26 into the

It will take a move below the rising 100 hour MA to tilt the bias lower The GBPUSD is doing it’s own chop in trading today.   What we know technically, is the run to the high for the day, found sellers near the “drop-ceiling” between 1.33795 and 1.33842. That was ahead of the high from

NASDAQ index marginally higher The major indices are opening with mixed results after the record closes in the S&P and Dow yesterday. The Dow also close above the milestone of 30,000 yesterday. It is currently trading back below that key natural resistance level. A snapshot of the market currently shows: S&P index -7.3 points or

Pair is down modestly The USDJPY is trading near session lows and in doing so, is moving back toward its 200 hour moving average at 104.216 (green line in the chart below). The rising 100 hour moving averages at 104.132. Both those levels will act as the barometer for buying and selling.  Stay above is more bullish. Move

Ceiling at 1.30268 to 1.3038. Floor 1.29842 to 1.2894 The USDCAD is higher on the day but trading in an up and down choppy range. Looking at the hourly chart above, the highs for the day stalled near the low of a topside ceiling area between 1.30268 and 1.30382 (see green numbered circles and higher yellow area).  On the downside,

Retest of the high from Tuesday. The NZDUSD is retesting the high from Tuesday’s trading at 0.7004.  The pair has been pushing higher since bottoming near session highs from Mondays trade around the 0.6962 to 0.6967 area (the low today reached 0.6960).  Staying above that swing level keeps the buyers more in control. Yesterday the pair moved sharply higher after the

Nasdaq index higher The US remain mixed after record closes in S&P and Dow yesterday. Both those indices are lower. The Nasdaq index is higher.  The snapshot of the major indices currently shows:  S&P index down 8.91 points or -0.25% at 3626.24 NASDAQ index up 32.27 points or 0.27% at 12068 Dow down -172.72 points or -0.57% at 29876.  

The AUDUSD pair remains within the up and down 12-day trading range Since breaking above 0.7221 on November 5 (taking out the high from November 4), the pair as traded between that level and the high at 0.73392 (around 120 pips).  We are in day number 12 since that break.  Over that time period, the price retested the 0.7221 level on

Up and down choppy action this week. The USDCAD is trading near the lows for the week at 1.3033. The low price reached a NY and day low at 1.30384. The current price is at 1.30497 area. That level represents the 50% midpoint of the range since November 9th.   Looking at the hourly chart above,

Can oil finally make a break? In the span of a few months, oil went from the world’s most-volatile commodity to a sleepy backwater. That won’t last. WTI crude climbed 40-cents on Friday to wrap up a 5% gain on the week to $42.15. It’s now up 17% this month and 25% since the election-night

Tests swing area over the last few days The EURUSD trades to new lows into the London fix and in the process has moved to test a swing area at 1.18487 to 1.18515. On Wednesday, the low based twice in that area.  On Thursday, the price fell below and found intraday sellers against the area

Kiwi dollar continues the comeback The US dollar was among the top performers last week but it’s back in the basement this week. At the other end of the spectrum is the New Zealand dollar, which was easily the top performer this week. Looking at NZD/USD, it’s had a nice two-week breakout from the 2020

NASDAQ index leads the way The NASDAQ and S&P index are closing near session highs. In the process they are snapping a 2 day losing streak.  The Dow industrial average also euros but at a more modest pace. The final numbers for the day are showing: S&P index up 14.08 points or 0.39% at 3581.87 NASDAQ

Dow down -0.6%. NASDAQ down but only marginally so far The major US stock indices are down for the 3rd day in a row at the opening. The declines are led by the Dow industrial average which is currently down about 0.6%. The NASDAQ is lower but performing relatively better. The snapshot of the markets

S&P index and Dow industrial average closed down around -1.10% The major indices slip lower in trading today after earlier gains. Russell 2000 and down transports at record intraday high, but are closing lower S&P and Dow industrial average each fall around -1.16% All S&P sectors closed lower utilities healthcare and energy were the hardest

Pfizer news a help. Boeing gets approval from FAA to resume flights US stocks are set to open mixed. The NASDAQ index is looking for lower. The S&P is near unchanged in the Dow is marginally higher. Pfizer vaccine news helped a little but the gains are being eroded. Also, Boeing received FAA approval to

Major indices all closed lower The good and bad for the stock market day is that the small-cap Russell 2000 closed at record levels for the 3rd consecutive day. The not so great news is that the major indices all closed lower on the day and snapped today winning streaks. Dow on track for best