Technical Analysis – US 100 index surges to all-time high; resumes upside outlook

Posted on April 23, 2019 at 9:03 am GMT

The US 100 index surged to a fresh all-time high of 7728 earlier today, confirming the recent significant bullish tendency in the medium- and long-terms and remaining inside the ascending channel following the rebound on the 14-month low of 5845 on December 2016. However, the technical indicators seem to be overstretched, suggesting a possible downward correction could be near. Specifically, the RSI is turning lower in the overbought territory, while trigger line is slipping well above the zero line. On [..]


Can US stock markets continue to defy gravity? – Special Report

Posted on April 19, 2019 at 1:19 pm GMT

US equity markets have been on a tear in 2019, reclaiming lost ground to come within breathing distance of their all-time highs. The rally has been fueled mainly by the Fed putting its rate-hike plans on ice, though easing trade tensions and corporate buybacks helped as well. While stocks could advance even further and break new highs, the risks seem increasingly asymmetric, with gains looking limited if growth stays solid but losses severe in case fears of a recession make [..]


Technical Analysis – US 500 index flies near 6-month peak; all-time high is near

Posted on April 19, 2019 at 9:12 am GMT

The US 500 index price skyrocketed to a fresh six-month high of 2918 on Thursday before it pared those gains later in the day. The price is holding above the red Tenkan-sen line as well as above the ‘golden cross’ within the 50- and 200-simple moving averages (SMAs). Technically, the RSI indicator is pointing marginally up near the overbought territory. However, the MACD oscillator is developing with stable momentum over the last sessions, despite the strong upside rally in the [..]


Technical Analysis – GER30 index rallies to 6-month high; some fragility expected in short term

Posted on April 18, 2019 at 10:06 am GMT

Germany 30 cash index (GER30) gained considerable traction after breaking the neckline (11,690) of the inverted head and shoulders pattern earlier this month, topping the rally at a six-month high of 12,194 on Wednesday. While, the RSI warns of an overbought market that could pressure the price lower in the short term, the uptrend off the 10,276 bottom may stay in place as long as the price continues to trade well above its simple moving averages (SMA). The bulls would aim for the 12,458-12,600 resistance area if the market [..]


Technical Analysis – US 30 index bulls still have control; flirts with 6-month high

Posted on April 15, 2019 at 1:18 pm GMT

The US 30 index is hovering slightly below the six-month high of 26,496, remaining well above the ‘golden cross’ between the 50- and 200-day simple moving averages (SMAs). Today, though, the index is on the backfoot and the technical indicators suggest that the market could ease a little bit in the short-term. The RSI is flattening in the positive zone, while the MACD stands below its trigger line. In case of a correction lower, preliminary support may be found near the 50-day SMA currently at 25,822 as well [..]

Q1 Earnings season: a helping hand or a hand out? – Special report

Posted on April 11, 2019 at 2:55 pm GMT

The time for the earnings season is coming again this Friday but unlike preceding releases, the S&P 500 companies are expected to have had a negative ride year-on-year in Q1 2019 for the first time since Q2 2016, with Refinitiv data suggesting a 2.5% decline in earnings per share. Another difference is that traders are feeling both nervousness and excitement as the unsurprising growth downgrade by the IMF earlier this week confirmed that something is wrong with the global economy, while in Wall Street, [..]


Technical Analysis – CHI50 stock index flies to new 1-year peak but enters overbought zone

Posted on April 10, 2019 at 9:17 am GMT

China’s 50 stock index experienced fresh buying interest after beating resistance around the 13,100 level, with the price spiking to a new one-year high of 13,917 early on Wednesday. While the RSI and the stochastics warn of an overbought market and the MACD suggests a softer trading in the short term as the indicator seems to be losing steam above its red signal line, the market needs to weaken back below 13,100 and the 20-day moving average for traders to resume cautious behavior. The [..]


Technical Analysis – US 100 index still in bullish mode, but correction may be close

Posted on April 9, 2019 at 8:36 am GMT

The US 100 index continues to print higher highs and higher lows in the daily chart, running to fresh six-month highs ahead of the all-time high around 7700. However, the technical indicators seem to be overstretched, suggesting a possible downward correction could be near. Specifically, the stochastic oscillator is hovering in the overbought zone, while the RSI has found resistance near the 70 level and is pointing down. Also, the MACD oscillator still stands above its trigger line with weaker momentum than before. It is worth [..]


Technical Analysis – EU50 index looks overbought above uptrend line; golden cross forming

Posted on April 4, 2019 at 12:47 pm GMT

The blue chip EU50 stock index restored bullish dynamics after meeting resistance at the 200-day moving average (MA) and hit a six-month high of 3,440 on Wednesday. While the RSI and the fast stochastics are warning over an overbought market, as the former is crawling above 70 and the latter is ready for a bearish cross above 80, a golden breakout between the 50- and the 200-day MAs is in progress, a sign that the recent upward pattern may extend [..]


Technical Analysis – US 500 index eases after it hit fresh 6-month high

Posted on April 4, 2019 at 11:56 am GMT

The US 500 stock index is edging slightly lower after finding strong resistance at the fresh six-month high of 2885 that it completed on Wednesday. The price retains bullish action as it holds above the 50- and 200-day simple moving averages (SMAs) which posted a ‘golden cross’ in the preceding sessions. Looking at momentum oscillators in the daily chart though, they suggest negative movements may be on the cards. The RSI is above its neutral 50 line but is pointing down, while the stochastic reversed lower in the overbought zone, posting [..]

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