US Indexes Maintain Pre-Market Open – 22 December 2021
Daily
Further to our previous article, the below shows the daily charts for the US30 (left), SPX500 (middle) and the NAS100 (right). All three indexes had a strong day yesterday with long blue candles. Of significance, the NAS100 has now pushed out of its area of weakness, between the lower blue and lower red bands, into the neutral area, between the blue bands. If the indexes can push further upwards into the area of strength, between the upper blue and red bands, it will be regarded as a bullish development. This is because meaningful moves to the upside tend to happened when price is trending in the upper zone.
Past Performance: Past Performance is not an indicator of future results.
Hourly
The hourly charts below show each of the indexes are in their respective areas of strength. If they can maintain whilst their stochastics move into the upper quintiles, bulls may be looking to follow though from yesterday. However, if the stochastics drift downwards, then market participants may be showing signs of exhaustion after yesterday's price action.
Past Performance: Past Performance is not an indicator of future results.
Featured Image by Gerd Altmann from Pixabay
Russell Shor
Senior Market Strategist
Russell Shor is a Senior Market Strategist at FXCM, having been promoted to the role in 2025 in recognition of his depth of insight and consistent delivery of high-impact market analysis. He originally joined FXCM in October 2017 as a Senior Market Specialist.
Russell holds an Honours Degree in Economics from the University of South Africa, is a certified FMVA®, and a full member of the Society of Technical Analysts (UK). With over 20 years of experience in financial markets, his work is renowned for its clarity, precision, and strategic value across asset classes.
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