The Nasdaq 100 has reached a key resistance zone here after a sharp recovery over the last few days: As you can see, the tech-heavy index is testing a bearish trend line around the 14200-14300 area. Here, we also have the 21-day exponential moving average coming into play. What the bears would like to see …
Gold has been stuck in an ugly range for several weeks now. But more recently, the pressure has been growing for a downside breakdown as stocks surged on lockdown easing hopes and amid central bank support. Today, the metal was testing a key support level, and traders were wondering whether support will hold given the …
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 …
S&P at potential resistance after last week’s inverted hammer Read More »
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?) …
[Video] S&P 500 arrives at KEY technical area after strong recovery Read More »
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 …
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 …
Stocks relinquish gains as jobless claims surge by 6.6 million Read More »
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 …
Stocks likely to face stiff resistance despite stimulus measures Read More »
The Federal Reserve threw the kitchen sink at the problem caused by the coronavirus outbreak today and although the markets initially welcomed the news, the gains have since evaporated. The market’s reaction should not come as a surprise given that we have seen similar responses to other stimulus packages announced by central banks and governments …
Stocks shrugs off Fed’s unlimited Treasury buying pledge Read More »
What a start to the week it has been in the markets, with crude oil losing a fifth of its value and US stock index futures limiting down after falling more than the allowable 5% in a single session. But with the European markets staging a bit of an oversold rebound, US stocks will likely …
Here is a short trade idea on the S&P CFD – i think the markets may sell off into the close ahead of the weekend given the risk of the virus spreading further: Fore more trade signals like this, check out my trade signals service HERE.
