US30 Hurts from Renewed Covid Fears
The US index registered a considerable rebound on Monday as risk tones normalized, but today sentiment takes another nosedive, sending US30 lower
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The US index registered a considerable rebound on Monday as risk tones normalized, but today sentiment takes another nosedive, sending US30 lower
Weekly Context Below we have added a triple moving average system to the SPX500 weekly chart. Despite the decline last week, the shorter-term green moving average is above the mid-term orange moving average, and the mid-term orange moving average is above the longer-term red moving average. Last week's pullback took place within this longer-term bullish formation. The weekly stochastic is above 80 and suggests an underlying bullish momentum (aqua arrow).…
GER30 Big Weekly Drop Last week the GER30, FXCM's proxy for the DAX30, dropped 6.4% from open to close. The coronavirus spread in Europe initially rattled the market. However, it was confirmation of a new strain that was the catalyst for the decline. First referred to as "Nu" but amended to "Omicron" by the WHO, research is currently being conducted on the new strain, with evidence suggesting a risk of…
News of agreement for a three-party coalition on Wednesday, provided support to the German Index, but today’s economic data are not helpful
Daily Chart Past Performance: Past Performance is not an indicator of future results. The NAS100's momentum has declined, as per the slow stochastic slipping below 80 (blue rectangle). This, as the index closed lower over the last two consecutive days. However, we do note that yesterday's candle closed well off of its low. I.e., the bears lost control at the low point as bulls took over. Today's price action will…
The German index sheds around 1% and runs its fourth straight losing day, breaching key technical levels, amidst poor investor sentiment
The index starts this holiday-shortened week on the front foot, after two straight losing weeks that were mostly fueled by Fed tightening expectations and Friday’s broader risk aversion
European traders try to shake-off Friday’s Coronavirus jitters and the relevant drop of the German Index
Broader market sentiment took a nose-dive, after Austria announced lockdown measures to restrain the spread of the coronavirus
Introduction The GER30, FXCM's proxy for the DAX, is running rampant. It has charted an all-time high this week. Moreover, this is its sixth week of price appreciation. Of note, the index is up 9.9% since its 6 October low. This is is an astounding rate of change. It raises the question of just how long should we expect this to continue? In the near term, it would make sense…
Past performance is not an indicator of future results Further to our previous article, the NAS100 moved positively back into the daily chart's bullish area, between the lower blue and lower red bands. Moreover, the current daily RSI still has room to move before registering as overbought. Given this strength, the hourly trend-following indicators are in a bullish formation, with the shorter-term green EMA above the longer-term orange EMA. Our…
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