Indices

Technical Analysis – US 500 index skyrockets to new all-time high

Posted on November 9, 2020 at 3:14 pm GMT

US 500 index (Cash) abruptly propelled off the 3,550 mark today, stretching towards a fresh all-time high of 3,674 just above the 3,670 level, that being the 138.2% Fibonacci extension of the down leg from 3,550 until 3,233. The index is currently withdrawing from the new peak, though the Ichimoku lines maintain their strong bullish tone. Moreover, a nearing positive overlap of the 200-period simple moving average (SMA) by the rising 50-period SMA, and the upturn in the adjacent 100-period [..]

Technical Analysis – US 30 index heads north in possible charge to new all-time highs

Posted on November 6, 2020 at 8:28 am GMT

The US 30 index (cash) created five straight positive days after the bounce off the 200-day simple moving averages (SMAs) around the 26,077 support level. Over the last four months, the price has been developing within a slightly bearish channel and the technical indicators are mixed. The MACD is standing near the zero level, while the RSI is extending its bullish movement above the neutral threshold of 50. Further increases could take the bulls towards the 29,224 resistance before revisiting the [..]

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

Posted on November 4, 2020 at 4:35 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 – Dollar index slumps from one-month high; tests key support area

Posted on November 3, 2020 at 11:59 am GMT

The US dollar index (December futures) sharpened its pullback from a one-month high of 94.28 on Tuesday, landing near the 20-period exponential moving average (EMA) in the four-hour chart. The 50% Fibonacci of the 94.77 – 92.43 downleg and the 50-period EMA are also strongly supporting the market in the same neighborhood around 93.60, providing an opportunity for a rebound and preventing an outlook downgrade at the same time. That said, the negative momentum in the MACD and the weakening [..]

Technical Analysis – US 500 index sets the stage for bullish moves

Posted on November 2, 2020 at 10:06 am GMT

The US 500 index (cash) found key support at 3,260, being the 23.6% Fibonacci retracement level of the up leg from 2,183.95 to 3,588.24 over the last couple of days. After the strong negative sessions in the preceding month, the index is trying to gain some ground with the RSI indicator sloping marginally up and the %K line of the stochastic oscillator, creating a bullish crossover with the %D line in the oversold territory. Upsides moves are likely to find resistance at the 200-day [..]

Technical Analysis – JP 225 index plunges under MAs; negative risks linger

Posted on October 30, 2020 at 1:29 pm GMT

Japan 225 stock index (cash) has improved slightly from the one-month low of 22,874 despite unbroken negative forces. The intact negative bearing of the Ichimoku lines and the downward sloping simple moving averages (SMAs) are supporting further deterioration in the price. Moreover, the approaching bearish crossover of the 200-period SMA by the 50-period one may additionally boost negative price action. The short-term oscillators, although in negative territories, reflect the recent progress in the index. The MACD, deep in the negative [..]

Technical Analysis – GER 30 index exits neutral zone below 200-day SMA

Posted on October 28, 2020 at 11:11 am GMT

The German 30 index (cash) slumped below the 200-day SMA and towards June’s lows on Wednesday, terminating the range-bound trading that held above that line in the past four months. Expectations are for the index to lengthen its downward pattern off the 13,460 peak as the 20-day SMA is trying to further deviate below the 50-day SMA and the MACD is resuming negative momentum below zero. Yet, with the RSI and the Stochastics fluctuating within the oversold territory, some stabilization [..]

Technical Analysis – US 500 index turns slightly lower after pullback off 3,550

Posted on October 26, 2020 at 10:09 am GMT

The US 500 index has reversed back down after finding resistance at the 3,550 level. This top is just below the all-time high of 3,588.24 that was reached on September 1. The momentum indicators are pointing to a neutral to negative bias in the short term with the RSI just above 50 and the MACD oscillator falling beneath its trigger line in the positive territory. Further losses should see the 40-day simple moving average (SMA) at 3,408 acting as major support around [..]

Technical Analysis – US 100 index explores bullish breakout

Posted on October 23, 2020 at 12:07 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 [..]

Technical Analysis – GER 30 index recovers a little; negative risks remain

Posted on October 22, 2020 at 3:06 pm GMT

Germany 30 stock index (Cash) looks to be fading further despite recently finding footing at the 12,339 level. Painting a deteriorating picture are the negatively charged Ichimoku lines, one of which has capped additional progress from the price bounce. Furthermore, the bearish tone of the simple moving averages (SMAs), and specifically the downwards overlap of the 100-period SMA by the 50-period one, may accelerate the decline. The short-term oscillators display the recent price gains but also consider a stall in [..]

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