Indices

Technical Analysis – JP 225 index continues to edge sideways; sentiment remains weak

Posted on September 24, 2020 at 3:38 pm GMT

Japan 225 stock index (cash) has maintained a relatively horizontal structure despite weakening below all its simple moving averages (SMAs). The 50-period SMA is in the process of completing a bearish crossover of the 100-period SMA, while all SMAs are somewhat converging. The short-term oscillators also reflect a state of weakened directional momentum. The MACD is barely in the negative region and below its red trigger line, while the RSI hovers beneath the 50 threshold. That said, should the price [..]

Technical Analysis – JP 225 index continues edging sideways; sentiment remains weak

Posted on September 24, 2020 at 3:22 pm GMT

Japan 225 stock index (Cash) in spite of weakening below all simple moving averages (SMAs) has maintained a relatively horizontal nature. The 50-period SMA is in the process of completing a bearish crossover of the 100-period SMA, while all SMAs are somewhat converging. The short-term oscillators also reflect a state of weakened directional momentum. The MACD is barely in the negative region and below its red trigger line, while the RSI hovers beneath the 50 threshold. That said, should the [..]

Technical Analysis – US 100 index erases gains, flirting with downside retracement

Posted on September 24, 2020 at 12:55 pm GMT

The US 100 (Cash) index is recording its second day of losses after a failed attempt to break significantly above the 50-day simple moving average (SMA). Chances for an upside reversal, however, are decreasing as the 20-day SMA is pointing down and the momentum indicators are suggesting that the next move in the price is more likely to be down. The MACD continues to strengthen to the downside and below its trigger line, while the RSI is sloping south below the neutral [..]

Technical Analysis – Dollar index aims for a bullish trend reversal

Posted on September 24, 2020 at 9:53 am GMT

The US dollar index (futures) is finally showing signs of a trend reversal after a six-month period of depreciation that pushed the price as low as 91.72 from 103.79 in March. Bullish pressures gained significant momentum this week, posting a higher high above the 93.60 resistance and the 20- and 50-day simple moving averages (SMAs) and hence, violating the downward pattern. Some consolidation cannot be excluded in the near-term as the price is currently testing the 23.6% Fibonacci retracement of the recent [..]

Technical Analysis – US 500 index erases some gains; could weaken further in short-term

Posted on September 21, 2020 at 10:06 am GMT

The US 500 (Cash) index is diving towards the 23.6% Fibonacci retracement level of the up leg from the 39-month low of 2,183.95 to the record high of 3,588.24 at 3,260. The declining move over the last three consecutive days drove the market beneath the 50-day simple moving average (SMA) and the technical indicators are confirming the recent bearish mode. The MACD is falling slightly below the zero level, while the RSI is slipping below the 50 level. Steeper movements [..]

Technical Analysis – US 30 index rebounds on 50-day SMA; bullish mode still active

Posted on September 18, 2020 at 8:53 am GMT

The US 30 index has rebounded somewhat after falling to THE 50-day simple moving average (SMA) but momentum indicators now suggest that market sentiment might get worse before getting better again as the RSI is flattening near the neutral threshold of 50 and the MACD is holding below its trigger line near the zero level. If the price manages to hold above 27,324 the index may rest around the 29,210 resistance. A decisive close above the latter could reach the [..]

Technical Analysis – UK 100 index struggles beneath cloud and negative trend line

Posted on September 14, 2020 at 1:49 pm GMT

UK 100 stock index (Cash) appears to be gradually fading below the very short-term descending line and the Ichimoku cloud. The flattened blue Kijun-sen line promotes a fairly sideways picture in the price, while the capping 50- and 100-day simple moving averages (SMAs) and the cloud’s lower surface suggest negative tensions may intensify in the index. That said, the upward sloping red Tenkan-sen line is reflecting current price attempts to develop further, while the RSI is climbing above its neutral [..]

Technical Analysis – US 500 index sends recovery signals; buyers await above 100-SMA

Posted on September 14, 2020 at 10:15 am GMT

The US 500 stock index (cash) is in a recovery mode and ready to return above the 20-period simple moving average (SMA) in the four-hour chart after refusing to step below the 3,296 bottom. The RSI and the MACD have posted higher lows, indicating an improving short-term bias. However, any additional upside correction may not be attractive enough unless the index jumps above the 100-period SMA, which had strongly rejected the bulls early in August. The 50% Fibonacci of the [..]

Technical Analysis – US 30 index under negative strain; broader positive picture challenged

Posted on September 11, 2020 at 12:05 pm GMT

US 30 stock index (Cash) is flirting with the 200-period simple moving average (SMA) following a bounce off the 27,196 barrier, which was then capped by the 100-period SMA around 28,207. The retreat from the 6½-month high of 29,195 appears to maintain its waning negative tone, and may receive a boost from the forthcoming bearish crossover of the 100-period SMA by the 50-period one. That said, the merged Ichimoku lines are currently edging sideways reflecting a slowing pace in the [..]

Technical Analysis – US 500 index corrects sharply from fresh all-time high

Posted on September 7, 2020 at 1:19 pm GMT

US 500 index (Cash) recently plummeted from its new all-time top of 3,588, spiking below the 200-period simple moving average (SMA) until the 3,348 trough from August 20. It appears that negative pressures are abating, mirrored in the flattening of the Ichimoku lines and as price stalls. Furthermore, the short-term oscillators also suggest some subsiding in the negative picture. The stochastic oscillator appears to be strengthening. The MACD’s decline, in the negative region, seems to have started to ease, while [..]

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