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The daily chart shows the Dow Jones Industrials (US30) on the left, the SPX (SPX500) in the middle, and the Nasdaq (NAS100) on the right. All three indexes trade in their bear areas between the red and blue bands. Notably, their respective Bollinger Bands have expanded as the downside volatility increases. Of concern are their stochastic indicators. Each is positioned below 20 (green rectangle), which is indicative of underlying bearish…
The US Index pauses its five-days losing streak, as sentiment improves today and US Yields ease from recent highs
FXCM's US Banks basket includes equal weighting of JPM, BAC, WFC, C, and COF. Given that JPM, WFC, and C released their Q4 earnings before the market opened today, the US Banks basket makes for an interesting analysis. JPM's EPS beat estimates coming in at $3.33 ($3.01 - estimate). However, this includes a release of $1.8bn in loan reserves, without which it would have missed the estimate. WFC's EPS came…
US30 started the week on the back foot, but moves to profits following yesterday’s Powell testimony and today’s CPI inflation figures
Daily The daily charts below show the DJI (US30) on the left, the SPX (SPX500) in the middle, and the Nasdaq (NAS100) on the right. All three indexes dropped following the release of the Fed's December minutes last week. Of the three, the NAS100 shows relative weakness and is between the lower blue and red bands. The US30 and SPX500 are in the neutral areas between the blue bands, with…
The charts below show an interesting relationship between gold and bonds. The top chart is XAUUSD, the middle chart is IEF - iShares 7-10yr Bond ETF, and the bottom chart is the US 10 Yr. Treasury yield. The red trendline shows the period between the third quarter of 2018 to the middle of 2020. During this period, gold and bond prices both appreciated, whilst yields declined. The orange trendline represents…
Below are the daily charts of the Dow Jones Industrials (US30 on the left) and the Nasdaq (NAS100 on the right). The US30 maintains its position in the bullish area, between the upper blue and red bands (zone 1). Its stochastic is above 80 (aqua rectangle), suggesting a relatively stable upwards momentum. Conversely, the NAS100 has declined over the last two trading days and now finds itself in the bearish…
The US automaker announced today strong sales, with its electric vehicles front and center, following a blowout year for the company’s stock
An amazing year for SPX500 draws to a close, with one more trading day remaining for Wall Street
The top chart shows the weekly US10 Yr. treasury. We have added moving averages as a measuring mechanism for yield appreciation. The green ellipse indicates that the quicker green moving average is near to crossing above the slower orange moving average. If this happens, and angle and separation develop, the odds favour further appreciation in the rate. The blue dashed vertical marks the time of the previous bullish cross (aqua…
Daily Charts As we head into the last week of the year, the US large-cap indexes have momentum as a tailwind. Below are the daily charts of the US30 (left), SPX500 (middle), and the NAS100 (right). All three are bullish and in their respective areas of strength, between the upper blue and red bands. Moreover, their stochastics are all above 80, denoting strong upwards momentum. The "Santa Rally" seems well…
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