Technical Analysis

Highlights of the debate E-mini was trading down -4.58 points at the start of the debate. Pres. Trump A vaccine will be available in weeks Vaccine is not guaranteed but will be coming by the end of the year there will be no dark winter for Covid we are learning to live with the virus.

Markets are misbehaving… The markets are misbehaving. The market broke after Texas reported a surge in hospitalizations, but the pattern being developed that it will take more than a region to bother the markets. Moreover, the hope regarding coronavirus now in the US is just plow through it. If you are vulnerable, take care of

Swing lows come in at 0.6991 to 0.7005 The AUD is the weakest currencies on the day, and the pair is pushing to a new 2021 low and moves toward the swing lows from October in September 2020.  Those levels come in between 0.6991 and 0.7005. The low price just reached 0.7013. A move below that floor area would increase the bearish

NASDAQ index leads the way The major indices clawed back some of the losses from Friday’s trade with the NASDAQ index taking back the most. The Dow industrial average lagged. The final numbers are showing: Dow industrial average +236.47 points or 0.68% at 35135.99 S&P index +60.61 points or 1.32% at 4655.25 NASDAQ index up 291.19 points

The dollar continues to keep in a good spot technically The greenback is trading more mixed and a touch lower on the day but it isn’t anything that is too significant as compared to the changes in the past week, or even yesterday. EUR/USD dipped below 1.1200 for the first time since June 2020 in

Dow and S&P close lower The US major stock indices are closing with mixed results.  Some highlights for the major indices: The NASDAQ index closed at a record level. The index rose 63.74 points or 0.4% to 16,057.45. The index reached an intraday new all time high at 16,121.12. The low extended to 16017.23.  The NASDAQ index closed above 16,000 for the first time

Down sharply on the day The price of WTI crude oil futures have fallen around three dollars a barrel or 3.6%. The price currently trades at $77.85 (December contract). The January contract is down $-2.65 or -3.32% at $77.09. Looking at the hourly chart, the price has now moved below the swing low from November

Three day up streak to end the week The USDCHF closed the week on a more bullish note.  The price closed higher for the third day in a row.  On Wednesday, the low for the week stalled at the lower trend line and bounced higher (bullish bounce)  Also on Wednesday, the price moved back above

Major indices move lower The major US indices are closing lower and in the process are snapping some pretty long win streaks. Highlights today: The S&P snaps a 8 day win streak The Nasdaq snaps a 11 day win streak Nasdaq had its worse day in 2 weeks. Tesla shares fell -$139.44 or -12% on

NASDAQ up for the 10th consecutive trading day The major indices jumped higher on the stronger jobs report. Despite the stronger report, US yields moved down as follow-through buying in debt instruments after the FOMC decision are helping the tone: NASDAQ and S&P close at record levels for the seventh consecutive day Dow industrial average

39th record close for the Nasdaq, 40th for the Dow and 60th for the S&P The three major indices closed at record levels once again.  For the year, the  NASDAQ closed at a record level for the 39th time Dow industrial average closed at a record level for the 40th time S&P index closed at a record

First close below MA since July 2020. With the EURUSD trading at 1.1554, the pair is on track to close the week below the 200 week MA. That MA comes in at 1.16657.   Three weeks ago, the pair closed just above the MA level.  Since then, the closing price for the week has been comfortably

Up $0.76 or 0.92% The price of WTI crude futures are settling at $83.57. The close was lower this week and the first negative week in 10 weeks.  The high for the day reached $83.74. The low extended to $81.41. The price last week closed around $84.15. With the settlement at $83.57 this week, the contract

Dow industrial average closed at a record level as well taking out the October 26 high close the major indices all closed at record levels to and the month of October. S&P and NASDAQ post their best month since November 2020 Dow and S&P higher for the fourth straight week All 11 S&P sectors higher

NASDAQ first record close since September 7 The major indices are closing higher with the NASDAQ leading the way to the upside ahead of Apple and Amazon’s earnings after the close. The major indices are closing near their highs in contrast to the the close yesterday that saw the indices closing at the lows. NASDAQ up for

Price breaking above 100 and 200 hour moving averages and extending the range As ECBs Lagarde press conference continues and after better claims data, and lower US GDP, the EURUSD is breaking to the upside, and making new highs. Prior to the recent break, the pair had been waffling up and down and very choppy

Russell 2000 tumbles -1.90% The major US indices are closing mostly lower. The exception is the Nasdaq which closed higher by 0.12 points or 0.00% (call it higher but just barely).  The final numbers are showing: Dow fell -266.19 points or -0.74% at 35490.70 S&P fell -23.13 points or -0.51% at 4551.67 Nasdaq rose 0.12

USD is mixed As the North American session gets underway, the JPY is the strongest of the majors while the GBP is the weakest (followed closely by the NZD).  The USD is mixed with gains vs the GBP, CAD and NZD and declines vs the EUR, JPY, CHF and AUD.  The Bank of Canada is