Technical Analysis

Dow industrial average is down -211 points at lows and closes at up 36 points The US stocks recovered after the FOMC signaled a 25 basis point cut, but dot plot showed no additional eases for 2019. However, Powell did say enough in his press conference to suggest that the view can change given global risks and potential weakness. As a result, the major indices start recover
Nasdaq stocks lead the charge The major US indices are trading to new session highs with the Nasdaq leading the way. There is about 15 minutes left in trading. The snap shot is showin: S&P index +6.72 points or 0.22% at 3004.69 NASDAQ index up 27.7 points or 0.34% at 8181.13 Dow industrial average up
Weaker Manufacturing sales and oil hurt the loonie The USDCAD is higher on the day helped by the weaker Manufacturing sales for July (-1.3% vs -0.1% est) and fallling oil (Saudi production will be back up sooner than expectations – crude oil is down near $3.00 currently).   Technically, looking at the daily chart above, the price of