Technical Analysis

Trades back in the red as the day works toward the close The NASDAQ index has given up his gains and trades in the red once again. Anegative close would be the 4th straight day to the downside.  The current index is trading down -17.8 points or -0.13% at 13615.80. The S&P index is still up by 10.13 points or
Three hourly bars closing above 200 hour MA The NZDUSD is the strongest of the major currencies today after falling sharply yesterday. The move back to the upside was helped by a better jobs report that saw the unemployment rate fall to 4.7% from 4.9%. The employment change increased by 0.6% versus 0.3% estimate.  The move to the upside today
100 hour MA being tested The NZDUSD as move down to retest its 100 hour moving average at 0.72213. The pair moved back below the Monday swing high at 0.72424 and picked up downward momentum on “risk off” sentiment (stocks lower/yield higher).    A move below the 100 hour moving average would have traders looking toward the 200 hour moving average currently at 0.72031.  Call
Give up gains as Powell calls some markets frothy the US stock indices are ending the session lower. The S&P gave up gains into the close and is closing just below unchanged. The Dow industrial average is the biggest loser. The Russell 2000 outperformed and is closing marginally higher.  The S&P and NASDAQ are on track