Daily Market Comment – Dollar edges up, stocks slip as recovery doubts set in

Posted on July 16, 2020 at 8:50 am GMT

China’s GDP bounces back but signs of uneven recovery dampen sentiment White House’s tough line on China also a drag on risk assets Euro softer ahead of ECB; Stocks eye US earnings and retail sales for direction China returns to growth but weak spending worries markets As far as V-shaped recoveries go, China’s economic recuperation from the coronavirus couldn’t look more V-shaped. Gross domestic product (GDP) jumped by 11.5% over the quarter to June after collapsing by almost 10% in [..]

Daily Market Comment – Euro surges, stocks bounce back amid fresh vaccine hopes

Posted on July 15, 2020 at 8:33 am GMT

Vaccine hopes boost risk assets; Wall Street selloff is over before it even began Euro and aussie charge ahead; pound and loonie try to catch up Oil holds its nerve as OPEC+ set to ease production cuts Mixed earnings overshadowed by promising vaccine results Global equities were back in bullish mode on Wednesday after a brief wobble earlier in the week had some investors worried that this could be the start of a long overdue correction in the markets. However, [..]


Technical Analysis – US 30 index attempts to keep recent gains intact

Posted on July 3, 2020 at 10:52 am GMT

US 30 stock index (Cash) is resting on the 100-period simple moving average (SMA) at 25,790, merged with the upper surface of the Ichimoku cloud and finding further support from the positively charged 200-period SMA just beneath, at 25,746. At the glance it seems this mostly neutral picture that has taken over the last weeks may be here to stay for a while. Conflicting signals exist in the directional picture of the index. The bullish Ichimoku lines mirror growing positive [..]

Daily Market Comment – Virus concerns cast aside as upbeat data boosts sentiment

Posted on June 30, 2020 at 8:38 am GMT

Stocks rebound as risk aversion eases on positive data from China and the US But virus worries linger as Australia and the UK impose local lockdowns Dollar heads higher, eyes Powell testimony and more US data Pound hammered by Brexit and virus woes Risk appetite improves on recovery optimism Hopes for a V-shaped recovery were bolstered after encouraging data out of the United States and China over the past 24 hours showed that the growth revival remains on track in [..]

Daily Market Comment – Stocks slide again on second wave fears; Pound skids ahead of Brexit talks

Posted on June 15, 2020 at 8:42 am GMT

A resurgence of coronavirus cases sends stocks into a tailspin again Aussie takes a beating, yen and franc up, but gold unable to capitalize Pound extends losses as Johnson tries to kickstart stalled Brexit talks End of the risk rally? The unstoppable risk rally that’s pushed global stocks close to erasing their virus-led losses is in danger of faltering as fears of a second wave of infections intensify. Several states in America have seen a large increase in the number [..]


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 [..]


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 [..]

Daily Market Comment – Recovery hopes pull stocks higher as US-China row put aside

Posted on May 26, 2020 at 8:38 am GMT

Growth optimism drives equities higher as outlook brightens on lockdown easing Dollar slips on risk-on mood, pound and aussie shine But gold supported by lingering US-China tensions Stocks buoyed by economic reopening Global equities extended yesterday’s strong gains with Asian indices adding between 1-3% on Tuesday and European and US futures surging by 2%. The recovery theme continues to support risk assets as more businesses around the world are given the green light to reopen, fuelling hopes of a sustainable [..]


Technical Analysis – US 30 index’s ascent slows, forming head and shoulders pattern

Posted on May 15, 2020 at 9:37 am GMT

US 30 stock index’s (Cash) one-month ascent from the multi-year low of 18,170 seems to have eased, forming a head and shoulders pattern on the daily timeframe. The price is currently testing the neckline of the pattern barely under the 23,869 level, that being the 50.0% Fibonacci retracement of the down leg from the all-time-high of 29,582.61 to the 40½-month low of 18,170. The short-term oscillators appear to be leaning towards the downside, accompanying the already negatively charged simple moving [..]


Technical Analysis – US 30 index consolidates above 200-MA; maintains bullish tone

Posted on April 16, 2020 at 12:50 pm GMT

US 30 Index (Cash) has taken a breather, trading around the mid-Bollinger band after breaking above the 200-period simple moving average (SMA) on the four-hour chart. That said, the index sustains its bullish bearing and is aided by the supportive trend line drawn from March 23, which has merged with the upward-sloping 50-period SMA. Moreover, the short-term oscillators are holding onto positive improvements in the price and could be boosted by the approaching bullish crossover of the 200-period SMA by [..]

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