Technical Analysis

The 100 day MA and the 50% retracement stalled the rally today The price of gold has move negative on the day and in the process traded to a new session low of $1777.28. The high for the day reached $1794.98. Looking at the daily chart, the high for the day stalled near its 100 day moving

EUR/USD down 5 pips to 1.1936 today Credit Suisse discusses EUR/USD technical outlook and sees a scope for further upside in the near-term. “EURUSD has extended its recovery and above resistance at 1.19232/27 sees a minor base established to suggest this can extend further. We thus look for a move back to a cluster of

Major indices higher. S&P falls short of it record high The NASDAQ index is closing at a record high level. The new intraday all time high price reached 14269.77. The S&P index got to within two points of its all-time record high at 4257.11. The high price reached 4255.84. A look at the closing levels shows: S&P index

USD/CAD down 27 pips to 1.2336 today USD/CAD touched 1.24 again today but that’s where it found sellers and the better tone in risk assets along with Western Canadian Select crude near $60/barrel leaves the loonie in a good spot. The market is trying to figure out what to do next with commodities more broadly.

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

100 day MA at 1.39367 The GBPUSD is moving closer to its 100 day MA at 1.3937 (off the bid side prices). The high price  just reached 1.39317.  The move back to the 100 day MA should solicit sellers looking to lean against the risk defining level. The price moved below the MA on Thursday,

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

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

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

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

Russell 2000 fell The major US indices are closing the day mixed. The Dow industrial average was the worst performer. The NASDAQ index was the best performer Technology +1.17% Healthcare +0.8% communication services +1.49% financials -2.93% energy -3.49% materials -2.2% Highlights: Dow closes down for the fourth straight day Longest losing streak since January for

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

The high price on May 10 reached $1733.50. The price is now testing the 200 day MA at $861.50 The price of lumber futures has continued its downward spiral as it moves below $900 for the first time since March 22 and tests its 200 day MA at $861.50.  The price high reached over $1733

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

Trades to the highest level since May 13 The USDCAD moved up to its highest level since May 13 today. The high price reached 1.2198 - just short of the natural resistance at 1.2200.  At the high, the pair was also in a swing high area between 1.21927 and 1.22027 that extended back to early May (see green numbered circles). The