Large Cap Indexes Positive Ahead of Market Open

  • NAS100
    (${instrument.percentChange}%)
  • SPX500
    (${instrument.percentChange}%)
  • US30
    (${instrument.percentChange}%)

Daily

The daily charts below show the US30 (left), SPX500 (middle) and NAS100 (right). Today's candles, ahead of market open, are blue, indicating current prices are above respective opens for the session. The NAS100 continues to show relative weakness and is still in its area of weakness, between the lower blue and lower red bands. The SPX500 is attempting to move from its area of weakness into the neutral area, between its blue bands, and the US30 has relative strength, with its candle fully in its neutral area.


Past Performance: Past Performance is not an indicator of future results.

Hourly

Below are the hourly charts. Each of the indexes are in their respective areas of strength, between the upper blue and upper red bands. All three stochastic indicators are also positive and above 80. This suggests an underlying bullish momentum on the hourly time frame. If the indexes maintain their positions between the upper blue and upper red bands, and if their stochastics hold above 80, the bullish momentum is maintained and bulls are likely to be accumulating. However, any crosses from the area of strength to neutral, or if the stochastics drop below 80 need to be monitored for signs that the bulls are losing their pre-market open control.


Past Performance: Past Performance is not an indicator of future results.

Featured Image by Gerd Altmann from Pixabay

Russell Shor

Senior Market Specialist

Russell Shor joined FXCM in October 2017 as a Senior Market Specialist. He is a certified FMVA® and has an Honours Degree in Economics from the University of South Africa. Russell is a full member of the Society of Technical Analysts in the United Kingdom. With over 20 years of financial markets experience, his analysis is of a high standard and quality.

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Past Performance: Past Performance is not an indicator of future results.

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