Technical Analysis – US 100 index celebrates Biden’s presidency at a fresh record high

Posted on January 21, 2021 at 12:06 pm GMT

The US 100 stock index (cash) popped to a fresh record high of 13,397 in the first day of Joe Biden’s presidency after finding a strong footing around the red Tenkan-sen line. With the RSI approaching its former peaks around the 70 overbought mark and the price hovering around the 161.8% Fibonacci extension of its latest pullback at 13,368, a downside reversal towards the swing high of 13,126 and the red Tenkan-sen line is likely in the near-term. The 20-day [..]

Daily Market Comment – Investors brace for Biden’s stimulus plan

Posted on January 14, 2021 at 9:23 am GMT

US President-elect Biden to unveil his stimulus proposal (00:15 GMT Friday) Size and details of the plan crucial for fate of dollar and equities Markets quiet overall waiting for Biden, ignore Trump impeachment Fed chief Powell speaks, ECB minutes coming up, Italian politics eyed Dollar’s fortunes hang on Biden’s proposal The main event today will be the unveiling of incoming US president Biden’s stimulus plan. The overall price tag of the package will likely be the main variable for markets, [..]

Daily Market Comment – Fed officials talk tapering

Posted on January 12, 2021 at 9:16 am GMT

Dollar buoyed by rising US yields as Fed discusses QE tapering Stock markets suffer a rare pullback, dragged lower by big tech Sterling gets its feet under it as BoE Governor plays down negative rates Parade of Fed speakers today – normalization remarks crucial US growth expectations reflected in rising yields Fed remarks about a potential scaling back of the QE program eclipsed everything else in a rather quiet session on Monday, pushing US Treasury yields higher and helping the [..]

Daily Market Comment – Dollar and equities roar as Biden promises fresh stimulus

Posted on January 11, 2021 at 9:52 am GMT

President-elect Biden pledges new relief package worth ‘trillions’ Stocks hit new records, dollar comes back to life, gold purged Is the market now trading the ‘growth narrative’ instead of ‘reflation’? Reflation or growth trade? It matters for USD Hopes that the Biden administration will unleash a federal spending spree came to fruition late last week, after the incoming US President pledged a new relief package in the ‘trillions of dollars’ to revitalize the American economy. The details of this plan [..]

Daily Market Comment – Biden floats new stimulus bill, US jobs report coming up

Posted on January 8, 2021 at 9:30 am GMT

Equity party continues to rage amid whispers of $3 trillion infrastructure bill Yen and gold suffer as global bond yields climb Dollar extends rebound ahead of nonfarm payrolls – an asymmetric event? Stock market freight train keeps on rolling Global markets remain in an ecstatic mood, with US equities powering to new record highs and defensive plays falling apart, as expectations for gargantuan stimulus packages in America continue to be baked in. The Democrats taking full control of Congress has [..]

Daily Market Comment – Stocks power higher as Democrats take Senate, despite chaos on Capitol Hill

Posted on January 7, 2021 at 9:51 am GMT

Equities hit new record highs as Democrats take full control of Congress But havoc on Capitol Hill keeps animal spirits in check Dollar kept alive by spike in real yields, gold not as fortunate Overall, Congress and Fed working together implies rosy outlook for riskier assets Markets rally as stimulus hopes overpower social unrest The Democratic party has officially taken full control of Congress after winning both Senate seats from Georgia, setting the stage for bigger spending packages to bolster [..]

Daily Market Comment – Vaccine euphoria runs out of steam, Fed chief speaks

Posted on November 12, 2020 at 9:36 am GMT

Markets in a cautious mood as lockdown reality eclipses vaccine hype Stocks pull back, dollar climbs, but moves rather small in size Main event today: Discussion panel featuring Fed, ECB, and BoE chiefs ECB sticking to its guns about more stimulus, will Fed follow suit? Back to reality for markets A sense of caution has crept back into global markets on Thursday as investors grapple with the short-term covid reality on the ground, which has reined in the enthusiasm around [..]

Daily Market Comment – RBNZ lights a fire under the kiwi, sterling climbs too

Posted on November 11, 2020 at 9:13 am GMT

RBNZ plays down negative rates, kiwi flies Sterling leaps after divisive bill suffers crushing defeat in Lords Markets in a cheerful mood overall, but watch the Fed   Kiwi charges higher after RBNZ ‘disappoints’ The kiwi dollar took off like a rocket on Wednesday, extending the gains it recorded amid all the vaccine enthusiasm, after the Reserve Bank of New Zealand poured cold water on speculation for negative rates. While the Bank maintained a cautious tone and even introduced a [..]


Technical Analysis – US 100 index explodes by 5% as Biden leads the polls

Posted on November 4, 2020 at 4:34 pm GMT

The US 100 stock index (cash) exploded by almost 5% on Wednesday to peak at 11,805 as the counting of election votes continues in the US, favoring a Biden win. Today’s rally has breached all the simple moving averages (SMAs) in the four-hour chart and flew above the Ichimoky cloud, retracing more than half of October’s sell-off. But the bullish action does not look to be exhausted yet as the Stochastics and the RSI have yet to admit overbought conditions. The 61.8% [..]


Technical Analysis – US 100 index explores bullish breakout

Posted on October 23, 2020 at 12:06 pm GMT

The US 100 stock index (cash) resumed this week’s sideways move within the 11,619 and 11,743 boundaries, represented by the 61.8% and 50% Fibonacci levels of the rally that started from 11,212, despite briefly tumbling to a two-week low of 10,743. The 100-period simple moving average (SMA) on the four-hour chart is currently keeping the price under control, and more importantly, near the surface of the descending channel, suggesting that this could be a make or break point for the market. With [..]

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