Technical Analysis

NASDAQ index leads the way The major US stock indices are ending a solid week with gains across the board.  Of the big 3 indices, the NASDAQ led the way. However, the Russell 2000 have the largest gains at 1.27%.   The S&P and NASDAQ and Russell 2000 all closed at record levels Dow, S&P on track for 5 day

WTI crude oil futures for March delivery settle up $0.62 or 1.10% The price of WTI crude oil futures settle at $56.85. That is up $0.62 or 1.1%. The high for the day reached $57.29. The low extended to $56.43. For the week, the price moved higher on each successive day. The low was on

EUR/GBP broke to fresh lows since May last year below 0.8800 yesterday Invest in yourself. See our forex education hub. After having flirted with a break of key support around 0.8866-67 at the start of the year, sellers are gathering more momentum in shoving the pair lower this week. The nudge lower below 0.8800 comes

USD/JPY breaks the trend line and rallies for 7 days This is a great chart for a Technical Analysis 101 class. Just draw a trendline and buy a break. USD/JPY is now up 7 days in a row. It’s stalling ahead of the November highs so that’s a level to watch. Beyond that, keep an

EUR/USD at 1.2000 remains a key level to watch this week Invest in yourself. See our forex education hub. The pair is touching a low of 1.2008 on the day now as sellers continue to look poised to try and test the 1.2000 level. Will that come about today? The dollar has been keeping rather

Modest bounce off key support. The EURUSD tried but couldn’t get below the old swing highs going back to September 1, 2020 and November 30, 2020 between 1.20027 and 1.2010.  The low price extended to 1.20035 and has seeing a modest bounce into the NY afternoon session.   The price has move toward the topside downward sloping trendline. That trend line currently comes

S&P post the best day to day performance since November The major indices closed higher for the 2nd consecutive day with solid gains across the board ahead of earnings from Amazon and Google after the close. The final numbers are showing: S&P index +52.37 points or 1.39% at 3826.24 NASDAQ index up 209.38 points or

Sellers fail on the first breaks As outlined in a post yesterday, the GBPJPY can come off new highs for the move higher but had to get below the 143.256 swing low level and an upward sloping trend line.  The price did do the first but could not get below the trend line into the

Silver eases lower to start European morning trade Invest in yourself. See our forex education hub. Silver is down by a little over 4% to a fresh low of $27.80 now as we get things goin in Europe, with the hype starting to die down now after having peaked at $30 yesterday. A key development

NY resistance stalls the rally.  New lows On the topside, watch the 1.21000 area for intraday bias clues. Looking at the 5 minutes chart below, the midpoint of the trend move lower today comes in at 1.20995. Just below that is the falling 100 bar moving average at 1.20982. The natural resistance at 1.21000 adds

The 100/200 hour MA is being tested The NZDUSD has tumbled lower over the last 5 hours as stocks hit the skids and risk off flows drive the price lower.   Also helping was the high for the day stalled near an old swing area between 0.77224 and 0.72248. The price moved above that area on

Another big week for earnings next week Next week is another big earnings week. This week’s results, although mostly better than expectations, saw investor sell into the bounces (generally speaking).   So what reaction will the results next week bring? Below is a list of the major releases: Monday Warner music group NXP Tuesday UPS Pfizer Alphabet

Crude oil closed at $51.98 last week The price of the March WTI crude oil futures contract settle today at $52.20. That’s down $0.14 or -0.27% on the day. The high price for the day reached $53.25. The low price extended to $51.93 For the week, the price a week ago settled near $52 and

Up over 60% since Wednesday The Vix or volatility index is trading up at 33.37 after reaching a high of 37.51 earlier in the day. The index has increased some 65% since Wednesday alone.    As volatility increases, so too does the Vix index. The volatility in the meme stocks has now rotated into the larger cap

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

Sellers reemerge after testing the highs for the week  and finding sellers The GBPUSD has been mired in a down and up and now down volatile price action. The high price high from earlier in the New York session stalled against the highs from earlier in the weekend the high from last between 1.3745 1.37582. The high price reached 1.3751 and rotated

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