Technical Analysis

Modest declines ahead of the presidential debate The US stock market was relatively quiet today. The major indices all fell on the day and in the process snapped a 3 day winning streak for each.  The NASDAQ remains 8% below its record high. The S&P is some 7% below its record high. The final numbers are showing:

Down -5.08% The price of WTI crude oil futures continues to track lower. The number contract is currently down $2.08 or -5.08%  at $38.53. The high price for the day reached $40.70. The low price extended to $38.41.  Technically, the move to the downside saw increased selling pressure on the break of the 100 day moving

Nasdaq leads the way The major indices closed higher across the board with the NASDAQ ending up leading the way.  The S&P and NASDAQ have now posted 3 days of higher closes.  All 11 sectors of the S&P closed higher.  The energy and financials led the rally today.   The Dow post the best day cents September 9 The final numbers are showing:

100 hour moving average at 0.92467 The USDCHF reached a peak price of 0.9294 in trading today. That was just short of the swing highs from Friday up to 0.92954. The price action since the high has seen a dip followed by a corrective move back into positive territory. However the last hour has seen a

Nasdaq leads the way with a 1.5% gain The major stock indices of extended to new session highs. The NASDAQ is leading the way with a gain of 1.5%. A snapshot of the markets currently shows: NASDAQ index up 163 points or 1.53% at 10836.22 S&P index up 32.28 points or 1.0% at 3079/28 Dow is up 195.88

Down 210 pips on the week The EURUSD has had its largest week decline since March 2020 when the price fell 336 pips. The fall this week at current levels has seen the price move from the week Friday close at  1.18376 to the current level of 1.16276. That is a decline of 210 pips.   Looking at

Down $0.06 or -0.15% The price of WTI crude oil futures settle at $40.25. That is down $0.06 or -0.15%. The high price for the day reached $40.64. The low price extended to $39.71. The close last Friday settle that $41.32. The settle today $40.25, has pushed the price down $1.07 on the week. That

CFTC commitments of traders: The EUR longs increase and remains near records. CAD the only shorts. Coming Up! Title text for next article LON +1 SDNY+10 NY -4 TYO +9 GMT Technical Analysis CFTC commitments of traders data for the week ending September 22, 2020. EUR long 191K vs 179K long last week. Longs increased

Dow, S&P and Nasdaq close higher for the 2nd consecutive week The US stock indices are ending the session with gains across the board and near session highs: NASDAQ and S&P closed higher for the 2nd consecutive day The NASDAQ index close higher for the 1st weekly gain in 4 weeks The S&P and Dow are not so lucky.

Large declines in the major indices this week European shares are closing lower and capping off what has been a ugly week for the equity markets.  The provisional closes are showing: German DAX, -1.3% France’s CAC, -1.0% UK’s FTSE 100, up 0.2% Spain’s Ibex, -0.4% Italy’s FTSE MIB, -1.1% For the week, the major indices are

A up and down day in most major pairs today The forex market had some ups and downs in the USD today.  The day started with the greenback higher. It remained near high levels as London traders headed to the exit. However, some selling in the NY afternoon session has erased a lot of the earlier

Attempt to go higher fizzles out. The AUDUSD moved higher after the new home sales data handily beat expectations. However, sellers in stocks, and in the AUDUSD has returned. The rally fizzled out. Technically, the pair is down for the 4th consecutive day today. That move came after a sideways move last week.  The high

S&P index falls over 2% The S&P index and NASDAQ index closed lower for the 5th time in 6 days. All 11 sectors of the S&P moved lower. Stocks closed near their session lows with the NASDAQ index tumbling over 3%. The S&P index is 9% away from its high. The NASDAQ index is now 12%

Price cracks end of June low earlier low at 1.16712 The EURUSD has cracked back below the 38.2% retracement of the move up from the end of June will low at 1.16884, and also below a swing area between 1.1691 and 1.1698 (see earlier post).   The pair has moved to a new session low of 1.1663 and trades to the lowest level

Major indices reaching for new highs  NASDAQ index up 161 points at 10941.29. The high price just reached 10946.41. The 50 hour moving average is currently at 10943.01. S&P index up 31.26 points or 0.95% to 3312.53. It’s high price just reached 3314.42.  Dow industrial average is now up 134 points or 0.49% at 27280.

Key level for buyers and sellers The GBPUSD is retesting its 100 and 200 day moving averages at 1.2720 area. The 2 moving averages in your converged near that level.  The earlier break below today reached 1.2711 before balancing higher. BOE’s Bailey look to walk back the idea of negative rates and the price bounce back hard (to the tune of about

S&P and NASDAQ down for 4 days.  Dow on 3 day losing streak The major indices all closed lower but well off the highs. S&P and NASDAQ are still lower for the 4th consecutive day Dow down for the 3rd day in a row NASDAQ closes 11% below its all-time high but nearly erased a -273

EURUSD falls below the low from last week at 1.1736 The EURUSD is trading to a new low for the month of September. The price has taken out the low from last Thursday at 1.17362. It also earlier fell below the September 9 low of 1.17518. That level is now a risk level for shorts. Looking at