Technical Analysis

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

Dollar selling takes the pair back to the downside The USDCAD and retraced all its gains from the day. The low from the first hour of trading in the Asian session reach 1.20635. The price just dipped to a new session low for the day at 1.20629. All the declines have occurred in the last 2+

Lows stalled at 61.8% retracement of last move higher The NZDUSD has snapped up to retest the 100 hour MA at 0.72587. The pair has found sellers on the test, but be warned, the London fixing is approaching at the top of the hour.  Anything can happen. For the week, the low was reached on Monday. That low

Major indices higher for the week/higher for the month The major European indices have moved higher on the day and the week. With most European it’s open on Monday, there is still one more day of trading for the month. However, the major indices are all trading higher for the month as well. A look at the provisional closes

A look at FX monthly performance and the chart The pound was easily the best performer this month gaining 2.68% against the US dollar, followed by CAD and CHF. The yen was the laggard, down 0.45% and AUD was the only other G10 currency down against the dollar. A big move in GBP/JPY came yesterday

Cracks below the swing area and 50% midpoint of the move up from May 13 swing low The EURUSD is making new lows for the week and in the process as cracked below the Monday low (reached in the first hour of trading) at 1.21718, a swing low area around 1.2158 which is also near the 50% of

GBPJPY up over 1% on the day The USDJPY is trending higher and is now trading at the highest levels since April 9 – moving above the May high at 109.78 in the process. The GBPJPY is outpacing that trend move gain, with a run higher of over 1% for the GBPJPY pair. The GBP is the strongest of the majors

Nvidia releases earnings after the close the major US indices are ending the session with mixed results. The Dow 30 is closing lower. The Russell 2000 index up small-cap stocks is closing up around 2%.  The Dow and S&P are on track for a monthly gain the NASDAQ remains on track for a down month.

S&P listen 1% from its all-time high Both the NASDAQ and SMP indices are trading to new session highs. The NASDAQ index traded as high as 13742.29. It is currently trading at 13741, up 83.85 points or 0.61% The S&P is trading up 10.9 points at 4199.05. That’s up 0.26%.  Its hi it just reached 4199.92 just short of 4200. The S&P index

Modest losses the major US stock indices are closed lower, giving up earlier gains. Highlights for the day include: S&P closes at 1% below all-time high NASDAQ 4% below all-time high Dow closes 2% below all-time high Dow, S&P on track for a monthly gain NASDAQ index on track for a monthly loss The final

German DAX up marginally.  Francis CAC and UK FTSE 100 down marginally. The European shares are ending the day with mixed results. The provisional closes are showing: German DAX, +0.2% France’s CAC, -0.2% UK FTSE 100, -0.2% Spain’s Ibex, +0.2% Italy’s FTSE MIB, +0.15% In the European debt market, the benchmark 10 year yields are all trading to the downside. Italy

Range at the start of the day was only 27 pips The USDCAD started the North American session with only a 27 Pippa trading range. That range is being extended to the upside and is up to 37 pips. That is still off the average of around 76 pips.  There is room to roam. Looking at the

Germany is close today the European indices close with the modest changes.  A snapshot of the provisional closes shows: France’s CAC, +0.3% UK’s FTSE 100, +0.5% Spain’s Ibex, unchanged Italy’s FTSE MIB, -0.3% In other markets as London traders look to exit: Spot gold is up one dollar or 0.05% $1882.24. Spot silver is up $0.16

Dow leads the way to the upside today The major indices are opening higher as traders look for a positive close the end of the week. The first three days of the week saw major indices fall. Yesterday, the prices is rebounded, and that momentum is rolling over into today’s trading. A snapshot of the market

The 100 hour MA comes in at 0.8998 The USDCHF traded to the lowest level since February 24 today after taking out the low from Tuesday’s trade at 0.89597. However, the moves below that low (there were 2), both failed today (the lowest low reached 0.89531).  After the 2nd failed run below the Tuesday low, the sellers turned buyers and was

UK FTSE 100 lower on the week The European major indices are ending the day mostly higher.  The snapshot of the provisional closes are showing: German DAX, +0.4% France’s CAC, +0.7% UK FTSE 100 , flat Spain’s Ibex, +0.8% Italy’s FTSE MIB, +1.0% For the week, the UK FTSE 100 felt modestly. The other major indices were higher: German DAX, +0.14% France’s

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NASDAQ index and S&P closes lower. The US stock indices are closed for the week. The NASDAQ index was the weakest of the majors today. The Dow industrial average closed higher. The S&P was marginally lower: NASDAQ index posts first weekly gain in five weeks NASDAQ post the fourth negative session in five Dow, S&P