Indices

Stocks were sold down on Friday and have started this week under pressure. Below are the daily charts of the US30, SPX500, and NAS100. Of the three the NAS100 is the weakest, trading firmly in its weak area between the lower blue and lower red bands. The sell-off during the Asian session has also driven the SPX500 into its area of weakness. The US30, whilst weak, has not definitively moved…

Main US Indices closed with gains on Wednesday, despite the Fed hawkish pivot and the projection of three rate increases in 2022

Markets seem to be in a bit of a “wait and see mode” ahead of today’s Fed meeting, which is followed by the British and European ones on Thursday

The index is under pressure following a poor start to the week, as the Fed’s policy decision approaches and Omicron worries resurface

Weekly Chart The weekly DAX (GER30) has confirmed a swing low. The reference low is the candle ending 3 December (aqua arrow). Last week, the price closed above the reference candle's high (aqua horizontal). This has set up a platform for a potential upswing. Whilst it does not guarantee an upswing, an upswing cannot take place without a confirmed swing low. We also note that the black 30-week EMA has…

Friday's headline CPI release indicates that US inflation is rising at its fastest pace since 1982. Month on month showed a rise 0f 0.8% and a 6.8% increase on an annual basis. Core CPI, which strips the series of volatile items, came in at 0.5% m/m and 4.9% y/y. The core increase is the steepest since 1991. Despite the high reading, large-cap US indexes gained on Friday and the week.…

The index started the week with a relief rally and this gives it the opportunity to close it with profits, despite its lackluster performance during its second half

The Index started the week on the offensive on improved sentiment around Omicron, but it has been facing difficulties since yesterday, as optimism eases and fears around China’s property market resurface

In our estimate, the DAX weekly is now at a critical juncture in terms of this week's price action. The candlestick of two weeks back is a long red candlestick down (aqua arrow). The range of the candle shows the fearsome selloff as news of the omicron variant emerged. However, last week, the DAX settled and a spinning top was charted. This is a candle of uncertainty, with neither the…

Weekly Chart Using 19 July as a starting reference, the UK100 has charted a higher trough followed by a higher peak. This is an uptrend. Last week's candle is setting up to potentially be the next higher trough in the series (HT?). If this week's candle closes above last week's high (aqua horizontal), the higher trough will be confirmed. This will create a platform for the UK100 to chart the…

Weekly Chart The DAX sold down heavily during the week ending 26 November. Last week was defined by uncertainty and a spinning top charted – bulls tried to take price higher, bears tried to take price lower, but the market closed relatively flat. Participants pay close attention to the 14,900 area, which is an identified area of support. Last week's candle (aqua arrow) is the lowest candle in a three-candle…