Indices

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

Posted on October 22, 2020 at 2:38 pm GMT

GER 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 [..]

Technical Analysis – US 500 index safe and sound above trendline

Posted on October 19, 2020 at 9:37 am GMT

The US 500 stock index is trimming its latest downfall in the four-hour chart after landing again on the ascending trendline and near its 50-period simple moving average (SMA). Technically, the short-term bias is set to switch back to bullish as the price is trying to strengthen above its 20-period SMA, while the RSI and the MACD are also pushing efforts to gain momentum above their neutral levels. A decisive close above the 3,500 level followed by a run towards the 3,533-3,549 resistance region [..]

Technical Analysis – US 30 index struggles at mid-Bollinger band; positive signals grow

Posted on October 16, 2020 at 12:42 pm GMT

US 30 stock index (Cash) after having pushed above the 50-period simple moving average (SMA) is now confronting the mid Bollinger band at the 28,600 barrier. The index appears to be regaining strength after a pivot back up from the 28,156 mark. The rising slopes of the 50- and 100-period SMAs and the recent bullish crossover of the 200-period SMA by the 100-period one may boost the short-term uptrend. The short-term oscillators also reflect increasing positive momentum. The MACD, slightly [..]

Earnings season kicks off with big US banks – Stock Market News

Posted on October 13, 2020 at 3:21 pm GMT

The third-quarter earnings season is finally here, with a horde of major US banks releasing their results this week. Bank of America, Goldman Sachs, and Wells Fargo will all report on Wednesday before Wall Street’s opening bell, and their numbers will give us a sense of not just how the financial sector is doing, but also how the US consumer is faring. Overall, a lot of gloom has been priced into the banking industry, which in some cases may present [..]

Technical Analysis – US 500 index extends positive move; next target at all-time high

Posted on October 12, 2020 at 9:15 am GMT

The US 500 index has come under renewed buying interest, climbing above the 40-day simple moving average (SMA) following the rebound off the 3,200 support. The MACD and the RSI are heading slightly up, supporting the upside movement. The all-time high of 3,588.24 could be the next target, and if this gets violated, resistance could then develop around the 3,819 barrier, which is the 161.8% Fibonacci extension level of the down leg from 3,588.24 to 3,200. If sellers drive the pair [..]

Technical Analysis – US 30 index bullish at 1-month highs

Posted on October 9, 2020 at 8:18 am GMT

The US 30 index is continuing its two-week-old rebound but with slower momentum, reaching one-month highs of 28,600 today. The short-term bias looks quite positive as the MACD is surpassing the trigger line, jumping in the positive area. The RSI, meanwhile, is flattening in the bullish territory, but it needs more progress for steeper inclines. The 29,210 resistance level could be a trigger point for more bullish actions, and if the index breaks the line, the all-time high of 29,582.61 would come next. Even higher, the market [..]

Technical analysis – US 500 index holds within bullish channel despite Trump’s comments

Posted on October 7, 2020 at 7:33 am GMT

The US 500 index (cash) gave up all its gains on Tuesday, which reached an almost one-month high of 3,430, to close lower following Trump’s stimulus comments. In the four-hour chart, the 50- and 100-period simple moving averages (SMAs) provided a strong footing, keeping the upward pattern in the very short-term picture intact and the price within an ascending channel. Should the 20-period SMA give way, the index could take a rest around the 3,412 resistance region before targeting the upper bound [..]

Technical Analysis – US 500 capped by 50-day SMA and Ichimoku cloud

Posted on October 5, 2020 at 9:28 am GMT

The US 500 index rebounded on the 3,200 handle and the 100-day simple moving average (SMA), shifting back to the upside. Currently, the price found resistance at the 50-day SMA and the upper surface of the Ichimoku cloud, while the red Tenkan-sen and the blue Kijun-sen line are moving horizontally. The MACD and the RSI are also heading sideways failing to support the upside movement. To the upside, emanating pressure over the last couple of days has denied upside moves. [..]

Technical Analysis – US 30 index declines after Trump tests positive for Covid-19

Posted on October 2, 2020 at 9:45 am GMT

The US 30 (cash) index declined below the 50-day simple moving average (SMA), continuing the selling correction from the 29,210 resistance. From a technical perspective, the MACD is moving sideways near the zero level, while the RSI is pointing down below the 50 level. More downside movements could send the price until the next support, which is the 23.6% Fibonacci retracement level of the upward wave from 18,145 to 29,210 at 26,571. Below this level, the 200-day SMA at 26,253 [..]

Technical analysis – US 500 index turns red after five months; may heal some injuries in near-term

Posted on September 28, 2020 at 8:03 am GMT

The US 500 index (cash) has been printing a series of lower lows and lower highs since the start of September in the four-hour chart, reaching a two-month low of 3,209 last week. Although the index has secured a negative monthly close for the first time in five months, it could push for some recovery in the near-term given the improvement in the MACD and the RSI, which have both bottomed twice near their recent lows before bouncing up. The price [..]

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