The monthly chart of FXCM’s CHN50 CFD is showing value tendencies. It spent 12 months in its bearish channel (notwithstanding a temporary spike in June 2022), between its lower blue and red bands. The current candle is attempting to move into its neutral channel between the blue bands (green vertical rectangle). This is bullish. The monthly RSI still needs to cross above 50 into the indicator’s bullish area (blue arrow).…

FXCM's US30 CFD climbed 2% yesterday. This appreciation moved the index from its weak zone, between the lower blue and red bands, into its neutral region, between the blue bands (green square). On a relative basis, this is a movement of strength.

During the week of December 5-9, Disney launched a new streaming subscription plan that includes advertisements, the US FTC sued to block Microsoft acquisition of Activision, Uber launched a robo-taxi service and more

The merging of teams may already yield favourable repricing. The Goog.us daily chart is trading between the upper blue and red bands in its bullish channel. The hourly EMAs have crossed positively (black ellipse). If the stochastic follows suit (red ellipse) and moves to the 80+ region (blue arrow), an underlying bullish moment will build on the short-term chart

The NAS100 daily chart (left) trades at support (green-shaded horizontal). This zone is around the 11,500 level

FXCM's US30 CFD has charted a bullish 1-2-3 pattern on the weekly scale. It seems to be in the midst of its next impulse move. To this end, we note that the stochastic has pushed into the upper quintile (blue arrow). The longer it stays in this region, the greater the chances of an impulse swing.

The NAS100 remains positioned in its bullish channel, between the upper blue and red bands. The market responded positively to Fed Chair Powell's Brooking Institution delivery, and a long blue candle was charted two days ago (green vertical rectangle).

The daily NAS100 has slipped from its bullish area, between the upper blue and red bands, to neutral, between the blue bands (green rectangle). On a relative basis, this suggests weakness. The hourly chart shows that the trend-following EMAs and the momentum-based stochastic have turned negative (black ellipses). If the EMAs develop angle and separation to the downside and the stochastic makes its way to the 20- levels, a bearish…

If the real rates start reflecting dovishness or a softer terminal rate, and given the inverse cc, the FXCM FAANG basket may be a beneficiary. This is because the FAANGs are sensitive to interest rate changes. As such, we continue to monitor.

Watch today’s US Open for commentary on the Fed’s minutes and their impact on the US Dollar and Wall Street, along with other news and developments

The broad US index is on the back foot at the start of a holiday-shortened week due to Thanksgiving, which also includes the Black Friday shopping event