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FXCM's US30 CFD climbed 2% yesterday. This appreciation moved the index from its weak zone, between the lower blue and red bands, into its neutral region, between the blue bands (green square). On a relative basis, this is a movement of strength.
During the week of December 5-9, Disney launched a new streaming subscription plan that includes advertisements, the US FTC sued to block Microsoft acquisition of Activision, Uber launched a robo-taxi service and more
The merging of teams may already yield favourable repricing. The Goog.us daily chart is trading between the upper blue and red bands in its bullish channel. The hourly EMAs have crossed positively (black ellipse). If the stochastic follows suit (red ellipse) and moves to the 80+ region (blue arrow), an underlying bullish moment will build on the short-term chart
Watch today’s US Open for insights into Wall Street’s effort to stop the five-day slide, the 2022 lows of USOIL, the latest policy decision by the Bank of Canada and more
The NAS100 daily chart (left) trades at support (green-shaded horizontal). This zone is around the 11,500 level
The broader US index is having a bad week as market seem to be nervous around the global economy, despite the fact that China has been relaxing its zero-Covid policy
Watch today’s US Open for commentary on the latest data from the US, the pandemic situation in China and the RBA rate hike to the highest levels in ten years
FXCM's US30 CFD has charted a bullish 1-2-3 pattern on the weekly scale. It seems to be in the midst of its next impulse move. To this end, we note that the stochastic has pushed into the upper quintile (blue arrow). The longer it stays in this region, the greater the chances of an impulse swing.
The NAS100 remains positioned in its bullish channel, between the upper blue and red bands. The market responded positively to Fed Chair Powell's Brooking Institution delivery, and a long blue candle was charted two days ago (green vertical rectangle).
Watch today’s US Open for commentary on the prospects of a less aggressive Fed, following Mr Powell’s speech and the softer PCE Inflation figures, as well as the impact on Wall Street and the greenback
The market is anticipating that the current hiking cycle is reaching its peak, with the risk-on sentiment more prevalent since the beginning of October. This is not surprising given the forward-looking nature of the markets.
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