The major US stock indices are trading higher with the Dow industrial average leading the way. The NASDAQ index is lagging after gains of 2% and over 1.2% over the last two trading days. A snapshot of the market 17 minutes into the opening is showing: Dow industrial average up 238 points or 0.66% at
Technical Analysis
USDTRY stalls at the 100 day moving average The USDTRY has had an extraordinary run over the last few days. That came after an huge run to the upside for the pair. On Monday, the pair soared to a high of 18.349. That was up from 6.89345 back at the lows in February. Since then
The major European indices are closing higher on the day with the Spanish Ibex leading the way. A snapshot of the market currently shows: German DAX, +1.0% France’s CAC, +0.77% UK’s FTSE 100 +0.43% Spain’s Ibex, +1.24% Italy’s FTSE MIB, +0.7% Looking at the German Dax, the price has risen now for the third consecutive
The S&P index is moving closer to its all-time high close. That level comes in at 4739.72. The high price just reached 4733.19. The S&P index is approaching its all-time high The price closed last week at 4620.65. On Monday the index gap lower reaching a low price of 4531.10 before starting a three day
GBPUSD on the weekly chart The GBPUSD closed the 2020 year at 1.3662, and spent the first 37 trading days working its way to the upside. A swing high was reached on February 24 at 1.4240 (578 pip from the year end close), before correcting down to 1.3668 at the end of March and early
The GBPUSD has trended lower in 2021 The EURUSD has seen the price move down in 2021. In fact the high for the week was reached in the first week of the year (on January 6) at 1.23488. The low for the week was reached toward the end of November at 1.11853 (on November 24).
NZDUSD trades between swing areas on the hourly chart The NZDUSD has been trading in an up and down trading range today after the sharp rise higher yesterday. The price action has been mostly center between the lower swing area between 0.6798 and 0.6806 and a higher swing area between 0.6833 and 0.6838. There have
Up $0.20 on the day or 0.39% The price of crude oil futures are settling the day at $50.95. That is up $0.20 on the day or 0.39%. The high price reached $52.20 The low price fell to $50.24. Looking at the hourly chart above, the price high did stall against its 200 hour moving
Buyers are scoring back on run back above swing levels/highs The USDJPY ran higher yesterday on the back of higher rates and US dollar buying. The pair moved above the old high going back to October 20 at 114.691. The price also moved above the November 2017 swing high at 114.728. It wasn’t until last
Tentative moves in the markets today The GBP is the strongest and the EUR is the weakest as NA traders enter. The Eurogroup members failed to agree on financing for the unions fiscal response. The failure to agree is putting some pressure on the EUR today. The GBP is the strongest, but the gains are
Test 200 hour MA The EURUSD bottomed at the 1.0802 level and have moved all the way back higher. It is now testing what should be a key test a the 200 hour MA at 1.0872 and a trend old trend line (that was broken yesterday). A move below 1.0850 is now close support if
NASDAQ index up 1.29% The month is getting off to a good start at least with the highflying NASDAQ stocks. After rising by 1.87% on the last day of the month, 5.99% for the month and over 30% for the quarter, the NASDAQ is rising by 1.27% on the 1st day of the new month
Markets are misbehaving… The markets are misbehaving. The market broke after Texas reported a surge in hospitalizations, but the pattern being developed that it will take more than a region to bother the markets. Moreover, the hope regarding coronavirus now in the US is just plow through it. If you are vulnerable, take care of
EUR/USD falls back below the 25 February high to a low of 1.2233 The euro is struggling to build on upside momentum today and part of that reason may owe to a bit of mixed commentary by the ECB as of late. Panetta’s comments here isn’t getting much attention but it is worth taking note
Highlights of the debate E-mini was trading down -4.58 points at the start of the debate. Pres. Trump A vaccine will be available in weeks Vaccine is not guaranteed but will be coming by the end of the year there will be no dark winter for Covid we are learning to live with the virus.
Index is now down -0.92% the S&P index has moved below its 50 day moving average at 4544.67. The current price trades at 4534.64. That’s down 42.2 points or -0.92%. The index traded below the 50 day moving average both on Wednesday and Thursday but rallied after approaching the 100 day moving average of 4491.18
NASDAQ down over 2%. S&P down over 1% The markets are in flux after the US jobs report and market reactions. US yields have turned lower in the longer end. The two year yield is still higher on the day by 1.0 basis points. The NASDAQ continues to lead the way to the downside. The
Swing lows come in at 0.6991 to 0.7005 The AUD is the weakest currencies on the day, and the pair is pushing to a new 2021 low and moves toward the swing lows from October in September 2020. Those levels come in between 0.6991 and 0.7005. The low price just reached 0.7013. A move below that floor area would increase the bearish