Technical Analysis

NASDAQ gives up gains. S&P also negative after trading above its all-time high closing level The major stock indices of now turned negative with the NASDAQ giving up its earlier gains. The S&P index, after trading above it’s high closing level, has also dipped into the red. With 15 minutes left and trading, the snapshot of the market is showing: S&P index -6.65 points or

The low yesterday and today reached 0.7187 The low on Monday occurred in the first hour of trading at 0.7187. The low today reached in the early hours of trading extended to 0.71866. In a non-trending environment, what goes up, tends to come back down. The move to the downside today today was helped by the pair

NASDAQ closes at the highest level since April 30 The major indices close mixed with the S&P unchanged. The NASDAQ index higher. The Dow industrial average lower. S&P close just below record closing level of 4232.60 NASDAQ closes at highest level since April 30 Energy sector was the biggest gain or help by WTI crude

Dow lags and posts the worst day in more than two weeks The major US indices are closing mixed with risk on flows sending the Russell 2000 and NASDAQ indices higher. The broader big cap stocks of the S&P index and Dow declined. The NASDAQ closes 2% from the high S&P closes less than 1% from the high

Risk on flows into the small-cap stocks as traders reevaluate Fed policy The Russell 2000 index of small-cap stocks is outpacing the other indices in trading today. The NASDAQ index is up 0.15%. The broader big cap S&P index is down -0.29%. The Dow industrial average is the worst performer at -0.45%. In contrast, the Russell 2000 index

German DAX trade to a new all-time high today. France’s CAC traded to its highest level since 2000 this week the European shares are ending the day mostly higher. The exception is the Spain’s Ibex which is down around -0.5%. For the week, the major indices are mostly higher again with Spain’s Ibex trading in

Swing area between 0.7207 and 0.72122 The NZDUSD followed the dollar lower trend and spiked to the upside.  The move higher took the price back above its 100 day moving average at 0.71780. It also moved above the 38.2% retracement of the move down from last week’s high at 0.71977. The high price moved to 0.72087. That high stalled within

Near 100/200 hour MAs and 50% of the week’s trading range The GBPUSD closed last week near 1.4183. The high for the week reached up to 1.42493 on Tuesday. That high took out the high price from February 2021 at 1.4240 (not shown), but only by 9 pips.  The move also took the pair to the

All major indices higher All the major indices are closing the session with gains. The day was led by the NASDAQ index NASDAQ has its best day since May 20 NASDAQ higher for the third straight week S&P has its best day since May 24 Dow and S&P higher for the second straight week A look

CFTC commitments of traders: EUR longs increased. CAD longs increase Coming Up! Title text for next article LON +1 SDNY+11 NY -4 TYO +9 GMT Technical Analysis Weekly futures forex positioning data from the CFTC EUR long 109K vs 104K long last week. Longs increased by 5K GBP long 24K vs 31K long last week.

Dow snaps five they win streak  The NASDAQ index is leading the decline with its biggest decline in three weeks. It also increases the up one day/down the next day string to 11 consecutive days. S&P index is down for the second time in three days Dow industrial average snaps it’s a five date when

Moves away from consolidation area.   The AUDUSD has been stuck within a trading value area between 0.7700 and 0.7795 since May 12. There was an extension to an extreme low to 0.76269 last week, but that was quickly erased.   Today, the pair saw a London session high that stalled just below the 200 hour moving average at 0.77404 (green line), and break -with

Major indices little changed  The US stocks gave up most of their earlier gains but still found some buying near the close and are closing higher on the day.   The Dow industrial average has extended its winning streak to 5 trading days.  The Dow is 2% from its all-time high The S&P is up 4 of the last 5 trading days.  The S&P

Swing area in the 1.2040 to 1.2046 The USDCAD is trading near the lows for the day and in the process is testing a swing area in the 1.20407 to 1.20461 area.  Yesterday and on Friday, the pair stalled near that area before moving to the downside and trading to the lowest level since May

Nasdaq modestly lower. Dow higher It is a mixed market in the US equities today. The Dow close higher for the fourth consecutive day The S&P index snapped its three day winning streak and closes near session lows. The index got within four points of its all-time intraday high The Nasdaq close lower energy sector closes 4% higher Russell 2000 up three

Up and down activity but above 100/200 hour MA The RBA Rates unchanged and kept a more dovish stance as Governor Lowe said “inflation and wage pressures are subdued” and that a pickup in prices is expected to only be “gradual and modest”.   Despite the less hawkish comments the dips in the AUDUSD have been bought.  The pair did dipped below its

WTI up 1% just above $67 currently Oil is trading close to its best levels for the year and from a technical perspective, may be set for a surge of gains if it can hold a daily close above $67 with a firm break above the $68 level preferable for buyers to extend the upside

Its month end too The US the stock market is opening with relatively modest and similar gains across the major indices. Remember, it is month end today (the stock market will be closed on Monday for Memorial Day). That could lead to flow data and increased volatility.  A snapshot of the market currently shows: S&P index up 12.18 points or