50 hour moving average at 10999.40. The Nasdaq index has cracked below its 50 hour moving average near 11,000. Looking at the hourly chart, the high from Monday reached 11126.037. The high price yesterday was just below that level at 11124 .85. The fall below the 50 hour moving averages a tilt to the downside from a
Technical Analysis
AUDUSD 200 hour MA and trend line target at 0.71702 The AUDUSD is trading at new session highs and in the process is testing (now breaking) its 200 hour moving average at 0.71702. A downward sloping trendline also cut across at that level. The next upside target comes against the 50% retracement of the range since August 7 at
Major indices closing near midrange The European equity markets are closed, and although the prices are lower on the day they are off session lows and near the midpoint’s of the days range. For the week, the indices are closing higher. The provisional closes are showing: German DAX, -0.7%. The low for the day reach
The high for the week is within sight The EURUSD has traded to a new intraday session high for the day. The pair moved above the 61.8% of the move down from the August 6th high at 1.1837 after stalling at the level earlier today. The pair next targets the high for the week at
Major indices close mixed A quiet trading session for US stocks. The major indices close mixed. The NASDAQ closed lower for the 1st time in 3 sessions. The S&P index was unchanged. The Dow is up. For the week, the major indices closed higher, but the NASDAQ was just barely higher. The final numbers are showing: S&P index -0.55 points or
Up and down trading today The USDCHF this week has been trading up and down. On Monday, the USDCHF moved higher and moved down and up on Tuesday. On Wednesday, the price moved to the high for the week at 0.91972 but tumbled lower and traded to new week lows on the same day. Thursday
Dow lagged all day The S&P and NASDAQ both make bonds at all time highs (and all time high closes) but gave up just ahead of the levels and are closing mixed. The the NASDAQ was the only index to hold onto gains today. The Dow industrial average lagged the broader indices all day. The NASDAQ is well off its highs but still
Seeing some dollar buying all of the sudden The dollar has reversed back higher in the last 30 minutes of trading. The EURUSD is back down testing the trend line on the 5 minute chart. The 100 bar MA on the same chart has been broken, but the trend line continues to hold the support.
Nasdaq rises 2.13% on the day The major indices are all closing higher led by the Nasdaq index. The Dow and S&P are up 9 of the last 10 days The Nasdaq broke the 3 day losing streak. The S&P rose to above the all time highest close at 3386.15 intraday, but has closed just
Run to the upside continues The European shares are closing higher for the day. The German DAX, France’s CAC, UK FTSE 100 has now moved higher for 4 consecutive days. A look at the provisional closes shows: German DAX, +1% France’s CAC, +1% UK’s FTSE 100, +2.2% Spain’s Ibex, +0.4% Italy’s FTSE MIB, +1.0% As
A look at USDJPY, EURUSD, GBPUSD The dollar has moved higher and in the process is testing some technical target in the major currency pairs. EURUSD: The EURUSD is cracking below the 1.17399 level (swing level) and will now look toward the swing area at 1.1713 to 1.1720. The lows today stalled against the high of
Ups and downs. Price stays below the MAs On the earlier run higher, the EURUSD held the resistance near the 100 and 200 hour moving averages (blue and green lines), and the swing area between 1.1801 and 1.18089. That run to the upside broke above a topside channel trendline. On the move back down, the price retested the underside of the
Dow and S&P are up for the 7 days in a row The Dow industrial average led the way for stocks to the upside with a 1.3% gain. The Dow index close at the highest level since February 24th and is just 2.6% from unchanged on the year. Both the Dow and S&P have closed
Buyers and sellers back in battle. The USDCAD based near its 100 hour MA on Friday (dipped below it after the jobs report), and quickly reversed higher. The run to the upside moved above a swing area at 1.3369 – 1.33766 on its way to a high just below the 1.3400 level (the high reached
Dow industrial average is still negative The S&P and NASDAQ index have turned back positive. The S&P is up 0.03% the 3350.34. The NASDAQ index is up 0.15% at 11124.83. The S&P index has been up for 5 consecutive days. The NASDAQ index has been up for 7 consecutive days. The S&P index reached a new high going back
London/European traders exit The USD is stronger but off the highs as London/European traders exit for the weekend. The greenback is the highest vs. the NZD (up 1.21%). It is the least high vs the JPY (up 0.31%). Versus the EUR, it is up 0.81% and is higher versus the GBP by 0.72%. Technically speaking: EURUSD: The EURUSD fell initially bottomed
Nasdaq leads the way lower today. The NASDAQ and S&P are reaching new session lows. The NASDAQ is leading the way with a decline of 1.67%. It is currently down 186 points to 10921.44. The S&P index is down 20 points or -0.61% at 3328.80 Looking at the hourly chart of the NASDAQ index, the pair is getting closer to
That is down $0.68 or -1.62% the price of WTI crude oil futures are settling at $41.27. That’s down $0.73 or -1.74% on the day. The high price today reached $42.22. The low price extended to $41.06. The last 6 weeks has seen the crude oil price settle between $40.27 and $41.29. Week ending Fri