US Large Caps Start The New Year In Bullish Territory

  • NAS100
  • SPX500
  • US30

The US large caps have bullish momentum as the new year gets underway. The daily charts below show the Dow Jones Industrials (US30) on the left, the SPX500 in the middle, and the Nasdaq (NAS100) on the right. All three charts are positioned in their respective bullish zones, between the upper blue and red bands. Moreover, each of their stochastics is above 80 and holding (aqua rectangles). This confirms the bullish momentum scenario. However, if any of the stochastics drop below their respective 80 levels, it may signal that the momentum has started to wane.

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

Hourly Charts

The hourly charts show similar. All three indexes are positioned bullishly pre-market open. The stochastic for each of the indexes is above 80 and has been maintaining those levels (aqua rectangles). This suggests a strong current momentum. However, if the indicators drop below their 80 levels, this bullish momentum may waning.

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

Featured Image by Tumisu 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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