Technical Analysis – US 30 index creeps to new all-time highs; positive momentum sluggish

Posted on December 18, 2020 at 1:28 pm GMT

The US 30 stock index (Cash) has logged a fresh all-time high of 30,345 as it continues to hold above the simple moving averages (SMAs), crawling gradually higher. The 200-period SMA is backing the positive structure, while the casual hike in the 50- and 100-period SMAs is maintaining the slow upwards pace in the index. Further backing this view is the relaxed incline in the Ichimoku lines. The short-term oscillators are reflecting weak momentum but lean towards the upside. The [..]

Daily Market Comment – Dollar whipsaws on Fed’s dovish guidance, upbeat forecasts

Posted on December 17, 2020 at 9:56 am GMT

Fed commits to current pace of QE until it sees “substantial further progress” Dollar jumps on modest tweak, rosy outlook before being pummelled by dovish Powell Pound continues to soar on Brexit deal optimism, euro climbs new highs too Aussie and kiwi on a roll as strong data, US stimulus hopes maintain bullish momentum Fed disappoints before Powell has to reassure The Federal Reserve pledged on Wednesday to keep buying bonds at the existing pace of $120 billion per month [..]

Daily Market Comment – Dollar steadies amid fresh virus restrictions; stimulus and Brexit talks linger

Posted on December 15, 2020 at 9:35 am GMT

Tighter virus restrictions dampen vaccine optimism; dollar halts slide, stocks struggle US stimulus talks gain momentum but still no agreement London lockdown knocks pound off its Brexit perch as ‘narrow path’ to deal eyed New virus curbs weigh on sentiment Optimism that an end to the global pandemic is within sight was unable to override the darkening clouds on the immediate horizon as Covid restrictions are on the up again. After Germany’s news that it is to enter a hard [..]


Technical Analysis – US 30 index falls slightly; broader outlook is positive

Posted on December 11, 2020 at 10:32 am GMT

The US 30 stock index (Cash) is edging south from its freshly logged all-time-high of 30,313.56. Positive sentiment seems to be taking a breather as the momentum indicators are losing some momentum. The MACD, in the positive region, is holding below its trigger line, while the RSI is exhibiting a stalled positive picture. However, the bullish 50- and 100-day simple moving averages (SMAs) could boost the price, sending the index to uncharted peaks. In a bullish scenario, immediate resistance may develop [..]


Technical Analysis – US 30 index conveys confidence above MAs  

Posted on December 4, 2020 at 1:27 pm GMT

The US 30 stock index (Cash) is tiptoeing higher after finding traction off the 100-period simple moving average (SMA), attached to the lower surface of the Ichimoku cloud. Although the Ichimoku lines are fairly directionless, the red Tenkan-sen line is nudging the price marginally higher. The indices’ positive structure appears safeguarded above the support zone of 28,838-28,957 and is being defended by the improving trajectory of the SMAs. The short-term oscillators are echoing intact positive momentum. The MACD, slightly above [..]

Daily Market Comment – Dollar sinks again on rising optimism but stock rally cools

Posted on December 3, 2020 at 10:03 am GMT

Dollar slide deepens as stimulus and vaccine hopes drive positive theme But vaccine-led rally may have run its course in equity markets as stocks mixed today Tense Brexit talks keep pound on edge, euro roars past $1.21 Oil slips ahead of OPEC+ decision; gold extends rebound The US dollar slipped further on Thursday, slumping to fresh 31-month lows against a basket of currencies, as investors dumped the world’s reserve currency in the face of increased optimism about the global economic [..]


Technical Analysis – US 30 index retains bullish bias despite minor pullback   

Posted on November 27, 2020 at 1:37 pm GMT

US 30 stock index (Cash) has retreated ever so slightly from its freshly logged all-time-high of 30,213. Positive sentiment seems to be taking a breather as the index, to some degree, is nudging sideways. The bullish 50- and 100-day simple moving averages (SMAs) could boost the price, sending the index to uncharted peaks. The short-term oscillators are transmitting mixed messages in directional momentum. The MACD, in the positive region, is holding above its red trigger line, while the stochastic oscillator [..]


Technical Analysis – US 30 index range bound; skewed positive above 29,195

Posted on November 20, 2020 at 10:49 am GMT

US 30 stock index (Cash) is facing the capping 50-period simple moving average (SMA) at 29,502, after improving a bit off the lower Bollinger band at 29,195. The index, ever since it logged a fresh all-time-high of 30,091 on November 9, has been trading in a ranging market between 28,838 and 30,091. That said, the flattening 50-period SMA and the conflicting signals in momentum within the short-term oscillators, promote a developing horizontal picture. The MACD is in the negative zone [..]

Daily Market Comment – Stimulus fears after Mnuchin cuts off Fed emergency lifeline

Posted on November 20, 2020 at 9:46 am GMT

Treasury Secretary asks Fed to return unused emergency funds, US futures slip But some relief as Senate Republicans agree to restart talks on new virus relief bill Fresh setback for Brexit talks after Barnier has to self-isolate as time running out Fed and White House clash over emergency programs The Federal Reserve’s powers for fighting the pandemic were severely curtailed on Thursday after Treasury Secretary Steven Mnuchin took the unusual step of not extending funding for many of the central [..]

Daily Market Comment – Virus surge overshadows vaccine progress, dollar ticks up

Posted on November 19, 2020 at 10:00 am GMT

Wall Street wobbles as restrictions tighten across the United States Dollar firms across the board amid growing fears of a winter health crisis EU budget row, Brexit angst sap euro and pound Markets subdued as virus surge shows no sign of easing Vaccine optimism struggled to sustain the positive risk sentiment as investors found it hard to ignore the ever-worrying headlines about exploding infection and hospitalization rates in Europe and America. The death toll in the United States from COVID-19 [..]

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