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Technical Analysis – US 30 index continues the upside rally near 35,000

Posted on November 16, 2023 at 8:44 am GMT

US 30 holds above 61.8% Fibo and SMAs RSI and stochastic suggest bearish correction in near term Only a move above 35,985 would shift broader bias to positive The US 30 (Cash) index has advanced considerably after the bounce off the 32,320 support level, overcoming the 200-day simple moving average (SMA) and the shorter-term SMAs. Notably, the price is rallying well above the 61.8% Fibonacci retracement level of the down leg from 35,685 to 32,320 at 34,400 but with weaker [..]

Technical Analysis – US 500 index snaps downtrend

Posted on November 15, 2023 at 9:19 am GMT

The US 500 index breaks downtrend after amazing rally Short-term bias bullish, but overbought conditions evident The US 500 stock index (cash) enjoyed its fastest daily rally (+2%) in a year on Tuesday, successfully scraping off the aggressive sell-off that started on September 15th to trade around 4,500 again. The latest bullish explosion indicates that the price will continue to rise as it is significantly above the descending trendline from July and its simple moving averages. Yet, the overbought signals coming from [..]

Technical Analysis – Is that a dead cat bounce in the US 100 stock index?

Posted on November 2, 2023 at 1:46 pm GMT

US 100 gains bullish impetus after bouncing near 200-SMA Short-term bias shows improvement, but uncertainty remains A bullish reversal or a dead cat bounce? The US 100 stock index (cash) picked up steam on Wednesday, extending its bounce off a five-month low of 14,057 to a high of 14,833. The price is currently aiming for a close above its 20- and 50-day simple moving averages (SMAs) after avoiding a drop below the long-term 200-day SMA last week. That said, its [..]

Technical Analysis – Will the US 500 index put brakes to the bearish storm?

Posted on October 19, 2023 at 11:39 am GMT

The US 500 index follows a short-term negative path Approaches key support area. Will the bulls take control? The US 500 stock index (cash) is probably set for another bearish round on Thursday as the technical signals remain gloomy. The RSI has fallen back below 50 and the stochastic oscillator is not yet at its oversold level of 20, indicating that sellers still have momentum. In other discouraging signs, the shorter- and longer-term simple moving averages (SMAs) have negatively [..]

Technical Analysis – US 100 index throws doubt on the latest bear attack

Posted on August 31, 2023 at 2:43 pm GMT

The US 100 stock index (cash) will be closely watched throughout the day as the bulls re-examine the tentative short-term descending trendline drawn from July’s 1½-year high at 15,480. A decisive step above that bar at 15,480 would call into question the downfall from recent highs, likely motivating an ascent towards the 15,800-15,930 ceiling. A victory at this point could produce another upleg to the 16,280 constraining zone, while higher, the focus will immediately fall on the resistance line that rejected the price [..]

Technical Analysis – GER 40 index trims losses but is not out of the woods

Posted on August 24, 2023 at 9:35 am GMT

The German 40 index (cash) corrected higher after completing a bullish morning star pattern near its July low of 15,455 and just above the 23.6% Fibonacci retracement of the October 20222-August 2023 uptrend. The 200-day exponential moving average (EMA) made this area important to watch as well. The rising RSI is an encouraging sign of an improving market sentiment, but the indicator has yet to confirm a bullish bias above its 50 neutral mark. Likewise, the MACD is still hovering around [..]

Technical Analysis – US 100 stock index takes a negative angle

Posted on August 11, 2023 at 12:43 pm GMT

The US 100 stock index (cash) is marking its second negative week, edging slightly below its 50-day simple moving average (SMA), which switched from support to a resistance area at 15,180. The bearish evening star candlestick pattern at the top of the uptrend makes the short-term picture look ugly, warning that the bearish wave might have just started. On the other hand, the stochastic oscillator raises optimism that the bears could soon take a breather as the indicator hovers around its [..]

Technical Analysis – US 100 index safeguards 2023 upleg

Posted on August 1, 2023 at 1:24 pm GMT

The US 100 stock index (cash) rotated higher around its 20-day simple moving average (SMA) at 15,450 last Friday and above June’s high of 15,280, retaining confidence in its 2023 uptrend. Although the bearish doji at the top of the uptrend remains worrisome, the latest upturn keeps the focus on July’s 1½-year high of 15,896. The bulls could even attempt to mark a new higher high near the resistance line from February at 16,140 if the 20-day SMA at 15,460 holds firm. Running [..]

Technical Analysis – US 500 index may remain downbeat

Posted on July 10, 2023 at 1:39 pm GMT

The US 500 stock index (cash) entered a new bearish phase after pausing its uptrend at a new 15-month high of 4,458 and slightly below the strong resistance line from December. The falling RSI and the MACD have confirmed a lower high, showing a bearish divergence against the market trend. The stochastic oscillator is also negatively charged and has yet to touch its 20 oversold level, flagging more losses ahead. Despite the discouraging technical signals, traders may not easily reduce their exposure [..]

Technical Analysis – Will the US 100 index come under profit-taking pressure?

Posted on June 1, 2023 at 2:19 pm GMT

The US 100 stock index (cash) opened June’s trading session on a neutral note, though the formation of a bearish doji at the top of the uptrend keeps feeding speculation that the latest remarkable rally has probably peaked. The RSI and the stochastic oscillator are witnessing overbought conditions. Yet, with the former standing above 70 and the latter preserving a horizontal trajectory around 80, upside pressures could last a bit longer, especially if the 14,215 nearby support area stands firm. In the event the price heads lower, [..]

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