Indices / Page 23

Technical Analysis – US 30 index range bound; skewed positive above 29,195

Posted on November 20, 2020 at 10:49 am GMT

US 30 stock index (Cash) is facing the capping 50-period simple moving average (SMA) at 29,502, after improving a bit off the lower Bollinger band at 29,195. The index, ever since it logged a fresh all-time-high of 30,091 on November 9, has been trading in a ranging market between 28,838 and 30,091. That said, the flattening 50-period SMA and the conflicting signals in momentum within the short-term oscillators, promote a developing horizontal picture. The MACD is in the negative zone [..]

Technical Analysis – JP 225 index holds bullish tone despite pullback from all-time high

Posted on November 18, 2020 at 2:54 pm GMT

Japan 225 stock index’s (Cash) positive bias is ebbing from the recently unlocked all-time peak of 26,204. Yet, the aggressive upwards development from the beginning of September, off the 100-day simple moving average (SMA) and the Ichimoku cloud’s upper surface, maintains its positive backing. Despite the stalling in the blue Kijun-sen line, the rising red Tenkan-sen line and the advancing 50- and 100-day SMAs are promoting improvements in price. The short-term oscillators have yet to confirm dwindling positive momentum. The [..]

Technical Analysis – US 500 index heads up towards spike of all-time high

Posted on November 16, 2020 at 11:30 am GMT

The US 500 index (cash) is approaching the spike that it posted on November 9, reaching a fresh all-time high of 3,674.11. As the price jumped above the 3,589 barrier, the expectation is a retest of the record peak before moving into uncharted paths. The upside rally could then pause at psychological levels such as 4,000 and 4,500. The technical indicators are currently endorsing the bullish outlook as the RSI is heading towards the overbought threshold, while the stochastic %K line turned up after [..]

Technical Analysis – US 30 index returns lower after spike to record high

Posted on November 13, 2020 at 10:28 am GMT

The US 30 index posted an aggressive spike towards a fresh all-time high of 30,091.18 on Monday before returning near the previous high of 28,945. Momentum indicators in the daily chart are currently supporting that positive momentum is likely to strengthen in the short-term. Specifically, the RSI is picking up speed slightly below the overbought region and the MACD continues to distance itself above its trigger line. Should the price move higher again, the bulls could extend the uptrend towards the aforementioned record high before the price [..]

Technical Analysis – UK 100 index bulls get a wake-up call; positive but overbought

Posted on November 11, 2020 at 4:41 pm GMT

The UK 100 stock index (cash) flew above the 200-day simple moving average (SMA) for the first time since February and closer to June’s high of 6,513, recording its second notable weekly gain and its biggest monthly increase in several years. The market is in overbought territory according to the RSI and the Stochastics, though the indicators have yet to set a downward shift, hinting that there is still some bullish steam in store. If that is the case, the [..]

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 4:34 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 [..]

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