INDICES

Technical Analysis – US 500 index posts fresh record high; RSI could be pointing to overextended market

Posted on January 24, 2018 at 11:03 am GMT

The US 500 index hit a fresh all-time high of 2,842.60 during today’s trading. The Tenkan-sen line remains above the Kijun-sen line – with both lines maintaining a positive slope – and the RSI indicator continues to rise. All these are indicative of the positive momentum that is in place. However, the RSI is well above the 70 overbought level at 84. This could be a sign of an overstretched market, rendering a pullback in the near-term a possibility. Further [..]

Technical Analysis – US 100 index trades near record high; RSI overbought

Posted on January 22, 2018 at 2:21 pm GMT

The US 100 index is currently trading close to its all-time high of 6,844.45 hit during Friday’s trading. Rising prices in recent weeks are setting a bullish picture for the index in the short-term. The RSI, which has been heading higher throughout this period, is supporting the view for a positive market bias. The indicator though has crossed above the 70 overbought level; this being interpreted as increased risk for a pullback in the short-term. The area around last week’s [..]

Technical Analysis – US 30 index exceeds 26,000 to record fresh all-time high; bullish though RSI overbought

Posted on January 16, 2018 at 3:07 pm GMT

The US 30 index rose to a fresh record high of 26,084.50 during today’s trading after significant advancing in the days that preceded. The positively aligned and steep upward sloping Tenkan- and Kijun-sen lines are indicative of the bullish sentiment that is in place in the short-term. The RSI, which is rising as well, is also supporting the view for bullish momentum. The indicator though is well above the 70 overbought level, hinting to the possibility for a pullback from [..]

Technical Analysis – Japan 225 index could be losing steam in short-term; looking bullish in medium-term

Posted on January 11, 2018 at 3:31 pm GMT

The Japan 225 index has eased somewhat after recording a multi-decade high of 23,997 earlier in the week. The Tenkan-sen line being above the Kijun-sen line is a positive alignment pointing to bullish momentum. However, both lines are flat at the moment, this being a sign of positive short-term momentum losing steam. Also, the picture in the very short-term is looking grim as per the stochastics: the %K line has crossed below the slow %D line with both lines heading lower; [..]

Technical Analysis – US Dollar Index remains in correction mode; 23.6% Fibonacci level acts as strong resistance

Posted on January 11, 2018 at 11:03 am GMT

The US dollar index continues to hold in a bullish correction phase after the sharp roller coaster to the downside. The rebound on the 91.44 support level drove the price to the upside hitting a 7-day high of 92.34. In the 4-hour chart, the index is currently trading slightly below the 23.6% Fibonacci retracement level of the down-leg from 95.05 to 91.44. There is an important resistance zone between 92.40 and 92.30(23.6% Fibonacci level). Rising above this area would help shift the focus to [..]

Technical Analysis – UK 100 index posts record high though RSI overbought

Posted on January 10, 2018 at 11:24 am GMT

The UK 100 index hit a fresh all-time high of 7,756.10 during today’s trading, with the index posting a notable rally since the beginning of December. The Tenkan- and Kijun-sen lines are positively aligned, pointing to a bullish picture in the short-term. The RSI is supporting this view: the indicator remains on the rise, though it has crossed above the 70 overbought level, rendering a short-term pullback a possibility. Further advancing could see the index finding a barrier around the [..]

Technical Analysis – US 500 index crosses above 2,700 to record all-time high; looking bullish in short- and medium-term

Posted on January 3, 2018 at 2:57 pm GMT

The US 500 index recorded an all-time high of 2,701.80 during today’s trading. A positive close would mark the second straight day of advancing after gaining 0.8% on Tuesday. The Tenkan- and Kijun-sen lines are positively aligned, with the former being above the latter. This is pointing to positive momentum in the short-term. The stochastics are also painting a bullish picture in the very-short-term: the %K line has moved above the slow %D line and both lines are heading higher. [..]

Technical Analysis – US 100 index not far below all-time high; stochastics signal possible pullback in very short-term

Posted on December 21, 2017 at 11:28 am GMT

The US 100 index is currently trading relatively close to the all-time high of 6,525.00 hit on Monday. The bias in the short-term remains positive as indicated by the Tenkan-sen line being above the Kijun-sen one, despite the index losing some ground in the two days that preceded. However, the stochastics are suggesting that the pullback might continue in the very short-term: the %K line has crossed below the slow %D line, with both lines currently heading lower. This is [..]

Technical Analysis – US 30 index bullish in the short- and medium-term; RSI though overbought

Posted on December 15, 2017 at 11:31 am GMT

The US 30 index has been advancing for the most part in recent days, reaching an all-time high of 24,678.00 during yesterday’s trading. The Tenkan-sen line being above the Kijun-sen line is a positive alignment pointing to a bullish short-term picture for the index. The RSI, which has been moving higher in recent weeks, supports a positive view in the short-term, though it has crossed into overbought territory above the 70 level, rendering a short-term pullback a possibility. Turning to [..]

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