indices

FTSE breaks out on impressive NFP beat

Following the publication of another impressive US jobs report, risk assets have extended their gains with European and US indices rising sharply. In case you haven’t seen the headlines, a good 4.8 million non-farm jobs were added in June with the unemployment rate falling to 11.1% from 13.3%. What’s more, the prior month saw an …

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S&P at potential resistance after last week’s inverted hammer

Last week all the major indices created inverted hammer candles like this on the S&P 500: If you look at Nasdaq, DAX, Russell you will see similar setups. So, IF those were the bearish reversal candles and after this week’s bounce back into resistance range, then we should be looking for bearish setups. The SPX …

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[Video] S&P 500 arrives at KEY technical area after strong recovery

Thanks to the actions of governments and central banks in response to coronavirus outbreak, investors have been piling into equities over the past several weeks despite the global economy being in a standstill. The rebound has been remarkable. The big question is what’s going to happen next: a continuation higher (to a new all-time high?) …

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Risk ON

Things have settled down with global stock indices extending their advance following Monday’s big upsurge and risk-sensitive currencies are also pushing higher. Investors are betting that the coronavirus outbreak may have peaked and are ignoring the economic slump that we are in. They are hoping that with the death rate falling in parts of the …

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Stocks relinquish gains as jobless claims surge by 6.6 million

No one used to care about it, but now it is arguably the most important macro data. The weekly unemployment claims hit a new record as 6.6 million people applied for it, doubling from 3.3 million the week prior. As soon as the data came out, European stock indices and US index futures, which had …

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Stocks likely to face stiff resistance despite stimulus measures

After a nice recovery over the last few days, investors will be wondering whether the selling is about to resume again in this bear market. With a growing number of countries in lockdown and the virus still spreading rapidly in Europe and the US, it is very difficult to be optimistic about the global economic …

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DAX: Selling continues

The brutal sell-off continued this morning as investors once again shrugged off the latest round of emergency central bank rate cuts. Equity investors are realising each passing day that the economic impact of the virus outbreak is going to be severe, after initially downplaying the risks. It is not just about cancellations of holidays, footballing …

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Markets continue to struggle as we enter day six of sell-off

Following another day of sharp falls for European markets, index futures point to another weaker open on Wall Street. This will be the sixth down day, and will be interesting to see whether the shorts will continue to press on, or if there will be some tactical buying here and there. In any case, trading …

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Selling of risk resumes but pace likely to slowdown

After Monday’s big falls , investors were relieved to see green first thing this morning as the vicious selling took a breather. However, the positivity didn’t last too long and the selling resumed once Wall Street opened for trading. Safe-haven gold also rebounded. Yet, the risk off tone was nothing like Monday, well not yet …

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S&P tests key level after a big drop on coronavirus concerns

Earlier we reported that the markets fell sharply amid growing concerns over the spread of the virus hurting economic growth. At one stage the Dow was down in excess of 1000 points! But as I write this, the markets are coming off their worst levels. Have we hit a low, or is this a temporary …

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