Stock Market News

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Technical Analysis – US 100 index flies to new records

Posted on June 23, 2020 at 2:43 pm GMT

The US 100 cash index (Nasdaq) entered uncharted waters today once again, breaking above its previous all-time high of 10,155. The picture is overwhelmingly positive, with the price printing higher highs and higher lows above all its simple moving averages (SMA). Short-term oscillators detect strengthening upside momentum, endorsing the bullish picture. The RSI, already in positive territory, looks to be headed for a test of its 70 line soon, while the MACD just crossed above its red trigger line, which [..]

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Technical Analysis – GER 30 index’s retracement forced sideways; positive picture under strain

Posted on June 22, 2020 at 2:43 pm GMT

Germany 30 Index’s (Cash) bounce on the 11,588 level, that being the 61.8% Fibonacci retracement of the down leg from 13,826.27 to 7,961, appears to have hit a ceiling at the 76.4% Fibo of 12,444. The current sideways move is further backed by the recent bearish overlap of the improving 100-period SMA by the falling 50-period one, around 12,258. Additionally, momentum indicators are highlighting the paused demeanour in the price as the MACD and the RSI remain stuck around their [..]

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Technical Analysis – US 100 index turns its gaze back to record highs

Posted on June 17, 2020 at 11:28 am GMT

The US 100 cash index (Nasdaq) suffered a small setback last week, after reaching a fresh record high of 10,155, but has since recovered most of its losses. The structure of higher highs and higher lows on the daily chart remains intact, which alongside the upward-sloping simple moving averages (SMAs), keeps the outlook positive. A new all-time high above 10,155 would reaffirm the uptrend. Short-term momentum oscillators concur. The RSI – already above 50 – looks to be headed for [..]

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Technical Analysis – JP 225 index restores positive tone with bounce off 23.6% Fibonacci

Posted on June 16, 2020 at 1:46 pm GMT

JP 225 stock index (Cash) yesterday bounced off the 21,431 mark, that being the 23.6% Fibonacci retracement of the up leg from 15,384 to 23,302, resuming the uptrend by climbing above the 200-day simple moving average (SMA). The Ichimoku lines and the short-term oscillators, although reflecting the recent pullback, continue to back an improving picture overall. The MACD, despite falling below its red trigger line, remains deep in bullish territory, while the RSI is rising above its 50 level. Additionally [..]

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Technical Analysis – Tesla’s stock claims 1,000 first time ever; rally could soften in short-term

Posted on June 12, 2020 at 1:33 pm GMT

Tesla’s stock recorded its best day of the year on Thursday as it managed to close slightly above 1,000 for the first time ever, re-activating its long-term uptrend above February’s all time high that preceded the virus-led crash. Expectations are now for the stock to give up some ground as the rally looks to be overstretched according to the RSI which is slipping below its 70 overbought mark. Yet, buying confidence may not fade unless the price breaks below the [..]

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How the stock market took over the FX market – Special Report

Posted on June 12, 2020 at 12:42 pm GMT

Once upon a time in a pre-covid world, the currency market and the stock market were driven by different factors. Correlations between the two existed of course, but they were limited to a few pairs, like dollar/yen. Nowadays though, it feels like every FX chart is linked directly to risk sentiment and equity market performance, instead of cross-country fundamentals. What changed, and what would a stock correction from the current heights imply for the FX market?   The dollar: A [..]

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Technical Analysis – US 30 index cautiously bullish at ascending trend line

Posted on June 12, 2020 at 8:18 am GMT

US 30 stock index (Cash) found some footing on the supportive trend line at the 25,230 level, that being the 61.8% Fibonacci retracement of the down leg from the all-time high of 29,582.61 to the 40½-month low of 18,170. Negative pressures have risen, as the index has aggressive weakened in the last couple of days. Yet, the Ichimoku indicator is reflecting weakness while the rising trend line and the simple moving averages (SMAs) back an improving picture. The short-term oscillators [..]

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Technical Analysis – CHI 50 index extends gains above 200-day SMA

Posted on June 2, 2020 at 3:10 pm GMT

China A50 stock index (Cash) lunged over the flat 200-day simple moving average (SMA) and the 13,692 high in the past sessions, reviving an improving picture. The recent upturn in the 50-day SMA suggests further advancements, as do the rising Ichimoku lines, which reflect growing positive momentum. Additionally, the MACD has pushed above its red trigger line in the positive zone, while the RSI is rising in the bullish territory. Moreover, the climbing stochastic %K line has entered the overbought [..]

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Technical Analysis – US 30 index retains a positive outlook above 22,788

Posted on May 29, 2020 at 12:03 pm GMT

US 30 Index’s (Cash) bullish tone is intact with the price currently resting above the 25,219 level, that being the 61.8% Fibonacci retracement of the down leg from the all-time high of 29,582.61 to the 40½-month low of 18,170. The price is sponsoring gains trading above the Ichimoku cloud and the supportive trend line. Additionally, the bullish Ichimoku lines and the rising simple moving averages (SMAs) further endorse an improving picture. Glancing at the short-term oscillators, they display the recent [..]

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

Posted on May 27, 2020 at 3:53 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 [..]

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