Technical Analysis – US 30 stock index crashes below 100-SMA; enters oversold area

Posted on October 29, 2020 at 8:51 am GMT

The US 30 index (cash) is set for its largest weekly loss since June after plummeting by almost 3% on Wednesday. The 100-day simple moving average (SMA) could not catch the fall as it notably did back in June and September, letting the price hit a fresh low of 26,499 below the Ichimoku cloud and slightly beneath its previous trough, a move that created question marks about the sustainability of the March uptrend. With the RSI and the Stochastics hinting at oversold conditions, an upside [..]


Technical Analysis – US 30 stock index keeps uptrend safe, but doubts rise

Posted on June 19, 2020 at 10:38 am GMT

The upward pattern in US 30 stock index (cash) lost some shine after the print of a lower high at 26,791 in the four chart, but the positive trend remains valid as long as the market action develops above 24,850. Looking at the short-term window, the index is trapped between a descending trendline and the 25,770 support area and unless one of these borders collapses, the neutral mode is likely to stay intact. Technically, the bias is viewed as cautiously positive given the latest rebound [..]


Daily Market Comment – Markets plummet as second wave fears grip investors

Posted on June 12, 2020 at 8:56 am GMT

Worries of a second infection wave kill the euphoria in markets S&P 500 loses almost 6%, dollar and yen shine again, commodity currencies crumble But risk sentiment back on the mend Friday, with most moves retracing a little Just a mild correction or start of something bigger? Daily virus numbers might decide that Risk aversion returns with a vengeance Just when it seems that all the bears have capitulated and that stock markets can’t bleed anymore, risk sentiment falls apart [..]


Technical Analysis – US 30 index jumps above 200-day SMA; enters key resistance zone

Posted on June 5, 2020 at 1:17 pm GMT

The US 30 stock index (cash) ticked above the 200-day simple moving average (SMA) and is ready to test the 26,580-27,000 resistance zone. The battle could be challenging as the RSI and the stochastics point to an overbought market, suggesting that the rally could soon lose steam. If the bulls are unable to remove the 27,000 ceiling, letting the price slip back below the 200-day SMA, the red Tenkan-sen line near the 25,770 barrier could take over. However, what could [..]


Have stocks ‘gotten over’ the virus? – Special Report

Posted on May 27, 2020 at 4:03 pm GMT

There’s been a lot of talk for a powerful V-shaped recovery, but that has only happened in the stock market, which is ignoring the rising economic and geopolitical risks and is instead plowing higher, powered by a tsunami of stimulus. Alas, at current levels equities imply a ‘painless’ recession, which is probably much too rosy. Overall, so much optimism has been priced back in, that it would almost take a miracle for reality to match the stellar expectations. There is [..]


Technical Analysis – US 30 Cash index surpasses flat SMAs; head and shoulders in progress

Posted on May 8, 2020 at 7:15 am GMT

The US 30 Cash index appears to be forming a head and shoulders pattern in the 4-hour timeframe in a possible signal for a negative trend reversal. In the previous downfall, the price failed to slip below its previous low of 23,322 and reversed north again, surpassing the flat 50- and 100-period simple moving averages (SMAs). That said, the momentum indicators are signaling a flattening mode in the near term. The MACD seems unable to jump above its zero level as [..]


Technical Analysis – US 30 stock index may have more bullish fuel in store

Posted on April 30, 2020 at 2:04 pm GMT

The US 30 stock index (cash) closed positive above the Ichimoku cloud on Wednesday, increasing speculation that the short-term uptrend could further strengthen. A bullish cross of the 20-day simple moving average (SMA) with the 50-day SMA may add to the sentiment if it is finally completed. The fact that the price has yet to touch the upper Bollinger band at a time the MACD keeps rising above its zero and signal lines is also hinting that the next move [..]

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