Italy’s FTSE MIB lower. Spain’s ibex unchanged The major European indices are closing the session mixed. The Italy’s FTSE MIB is lower. Spain’s Ibex is unchanged. Germany, France, UK are higher. The provisional closes are showing: German DAX, +0.3% France’s CAC, +0.3% UK’s FTSE 100, +0.5% Italy’s FTSE MIB, -0.2% Spain’s Ibex, unchanged In the European debt market, the benchmark
Technical Analysis
Dow up nearly 600 points as Fed concerns ease a bit. All the major indices are closing higher on the day led by the Dow industrial average which rallied near 600 points. Stocks were supported by less hawkish than expected comments from Feds Bullard and Kaplan. S&P rises for the first time five trading days S&P
Trades to a new cycle high The WTI crude oil futures are now trading up $1.75 or 2.44% at $73.39 (high at $72.40). The move to the upside has now taken out the high from last week at $72.96 to make a new cycle high going back to October 10th 2018. Close risk is now at the high from last
50 hour MA at 14060 The Nasdaq index has moved back lower after a rebound from opening levels. The price is back down retesting the 50 hour MA at 14060 area. A move below that MA, should solicit more selling momentum. For the S&P index, it as already cracked below it’s 50, 100 MAs. Today, the index opened below
Midpoint comes in just below 0.9200 The USDCHF has extended higher in trading today with the overall dollar bullish bias. The move has extended the price above the 50% midpoint of the range since the April 1 high. That level comes in just below the 0.9200 level at 0.91987. If the price can stay above that level, the
Lows at 0.69405 and 0.69446 broken today The NZDUSD has continued its move to the downside over the last three days and in the process has dipped below the March swing low at 0.69405 and the April 1 swing low at 0.69446. The low price today reached 0.69223. The price is currently training 0.6936. Last week, the price move below its
Up $0.60 or 0.84% The price of WTI crude oil futures are settling at $71.64. That is up $0.60 or 0.4%. The price last Friday closed at $70.79. So for the week, the price is up $0.85. The high for the week was on Wednesday at $72.96. The low for the week was yesterday at $69.76. Technically, in
Dow down for the fifth consecutive day The major US indices are selling off into the close with the S&P and Dow industrial average near the lows for the day. The Dow closed lower for the fifth consecutive day S&P closes lower for the fourth straight day Dow has its worst week in 2021 Dow has
Big fall today and down for the week The major European indices are ending the week on a sour note with big declines on the day. For the week the indices are also lower. Looking at the provisional closes: German DAX -1.9% France’s CAC -1.5% UK’s FTSE 100 -2.0% Spain’s Ibex -1.9% Italy’s FTSE MIB -1.8% For the week, the indices are
The Australian dollar has had a dreadful 24 hours since yesterday’s blow-out good employment report. The chart is looking precarious, those plotting weekly bars/candles will be focused on where it finishes Friday in US time. Here is the daily chart, I’ll leave you to check out the weekly (ForexLive free charting is here if you
After two successful bounces off the 100 hour MA, the level gives way and the sellers enter The price of crude oil has scooted lower and trades to a new session low of $70.85. The move to the downside, was triggered on the break of the 100 hour MA at $71.58. The price had bounced
Fed ups inflation expectations and said thinking about thinking about tapering The US stocks are closing lower on FOMC decision, but well off the lows. The Fed up there expectations for inflation in 2021, but still see inflation rates moving back toward just over 2% in 2022. The US 10 yield is up about eight basis points to 1.579%. That is still off
Swing area around 0.9000 above, and MAs below at 0.8076 area The USDCHF is defining close risk/bias levels ahead of the FOMC rate decision. Looking at the hourly chart, the 0.8999 to 0.9001 area is home to five separate swing highs over the last for trading days. The price did extend above that range during yesterday’s trade, but could not sustain momentum.
Nasdaq moved lower after reaching an all-time high closing level at the close yesterday The major indices are moving lower today led by the Nasdaq one day after it reached an all time high close just yesterday. Dow down for the second day in a row S&P, NASDAQ on pace to snap three-day winning streak S&P index reached a
Price back toward the 200 hour MA The USDCHF has had a wild and volatile up and down trading day. The initial move was to the downside. That run saw the price cracked below its 200 hour moving average (green line currently at 0.8982) and then the 100 hour moving average near 0.8969. The price low extended to 0.8965
NASDAQ up for the third day in a row. Dow closes well of low of The major indices are closing mixed with the NASDAQ and S&P closing higher. The Nasdaq closed above the April 26th all time high close at 14138.79. The all time intraday high is at 14211.57. The S&P also closed at a new
Down -162 points on the day The Dow industrial average is trading at a new session low at 34316.00. That is down about 162 points or -0.48%. Leading the way to the downside is Walgreens/Boots which is trading down -1.84%. Cisco Systems is down -1.61%. Visa is down -1.41% The S&P index is also near lows. It
Low from May tested at 0.71148 The NZDUSD has been trending lower over the last 9 hour of trading. The move has taken the price from a high of 0.72098 to the lows of 0.71153 (or about 95 pips). That low took out the June low at 0.71248, but is so far just testing the