Zoomed out daily chart outlook It has been a while since we looked at the S&P 500. The inverse head and shoulder we have been monitoring is still playing itself out slowly as price continues to sit on the neckline. Finally, we see price is pushing above the neckline. The swing high at $4,208.75 would Read More…
Technical analysis The bulls are in control as the Dollar weakens. The Euro is strengthening, and it’s evident on the chart. Price has tested the zone within the gaussian channel and has bounced successfully out of it. This is a good sign for trend-following traders who wish to go long the Euro because the trend Read More…
US equities increased on Monday as investors were reassured by a deal to save Credit Suisse and moves by central banks to boost trust in the financial system. Investors also considered the possibility that the Federal Reserve could hold off on raising interest rates this week. Late on Sunday, UBS and rival Credit Suisse agreed Read More…
Currency futures rose, and the dollar dropped on Friday as markets became more nervous and worried about the possibility of a recession due to tighter monetary policy. In recent days, US banks have requested a record $153 billion in emergency funds from the Federal Reserve, even though Credit Suisse’s $54 billion loan and First Republic’s Read More…
NQ rallies, Dollar falls Nasdaq has rallied off the 0.236 Fib level at $11,967.50. There was a significant amount of support at this level even after we saw the Dow and Russell 2000 drop. ES and NQ have slightly decoupled from the other equity markets and are holding stronger for the time being. Outlook It Read More…
Gold soars 8% in 2 weeks Last week Tuesday marked the recent low for GC as it has rallied hard on the back of a weak Dollar. We saw price bounce out of a minor support zone and rally up toward the 0.786 Fib level at $1,980.3. The next target for Gold bulls is the Read More…
