All Articles Tagged - US100cash

Technical Analysis – US 100 index is greedy for more all-time highs

Posted on July 2, 2020 at 12:24 pm GMT

The US 100 stock index (cash) is calling new all-time highs ahead of the Nonfarm payrolls report due later today as the price has yet to reach the edge of the overbought zone in the daily chart; the RSI has yet to peak above 70 and the Stochastics keep strengthening towards the 80 level. The next stop could be near the 10,650 level taken from the 161.8% Fibonacci extension of the latest negative correction (from 10,346 to 9,820). Alternatively, the [..]

Daily Market Comment – Stocks jump into the green, but dollar doesn’t play along

Posted on June 26, 2020 at 8:06 am GMT

Investors ignore a litany of bad news, push stocks higher on deregulation hopes But FX retains a more cautious tone, dollar holds onto gains as US cases hit new record Texas and Florida “pause” their re-opening plans Rebalancing flows heading into quarter end could bite markets Stocks and dollar focus on different narratives The epic market battle between stimulus-driven bulls and virus-fearing bears seems set to end in a draw this week, as worries of a rapid resurgence in virus [..]

Daily Market Comment – Gold flies to new highs, RBNZ talks kiwi down

Posted on June 24, 2020 at 8:10 am GMT

Dollar retreats after encouraging PMIs turbocharge euro Gold capitalizes on weaker dollar, reaches heights last seen in 2012 Stocks inch higher led by tech, despite US virus spike and rising bankruptcies RBNZ expresses discomfort with exchange rate, kiwi obliges Gold takes advantage of softer dollar Global markets continue to be torn between conflicting narratives, as signs that the world economy has entered the recovery stage – with a little help from a tsunami of stimulus – clash with a worrisome [..]

Technical Analysis – US 100 index flies to new records

Posted on June 23, 2020 at 2:43 pm GMT

The US 100 cash index (Nasdaq) entered uncharted waters today once again, breaking above its previous all-time high of 10,155. The picture is overwhelmingly positive, with the price printing higher highs and higher lows above all its simple moving averages (SMA). Short-term oscillators detect strengthening upside momentum, endorsing the bullish picture. The RSI, already in positive territory, looks to be headed for a test of its 70 line soon, while the MACD just crossed above its red trigger line, which [..]

Daily Market Comment – White House sends markets spinning, European PMIs bolster euro

Posted on June 23, 2020 at 8:19 am GMT

Conflicting statements from White House on China send currencies and stocks for a wild ride But markets back to square one as dust settles, still in a good mood overall Nasdaq closes at new record as US virus cases ease back down European PMIs show France back in expansion, boost euro Navarro channels his inner China hawk, then walks it back Global markets went for a wild ride overnight, after White House trade advisor Peter Navarro – probably the administration’s [..]

Technical Analysis – US 100 index turns its gaze back to record highs

Posted on June 17, 2020 at 11:28 am GMT

The US 100 cash index (Nasdaq) suffered a small setback last week, after reaching a fresh record high of 10,155, but has since recovered most of its losses. The structure of higher highs and higher lows on the daily chart remains intact, which alongside the upward-sloping simple moving averages (SMAs), keeps the outlook positive. A new all-time high above 10,155 would reaffirm the uptrend. Short-term momentum oscillators concur. The RSI – already above 50 – looks to be headed for [..]

Daily Market Comment – Nasdaq rips higher ahead of Fed decision, dollar in agony

Posted on June 10, 2020 at 8:06 am GMT

No action expected from Fed today, but signals will determine whether the ‘risk party’ can keep going Dollar extends losses ahead of rate decision, Nasdaq hits new record high Sinking greenback raises all other boats – euro, pound, franc, and commodity currencies near highs We’ll also hear from key ECB and BoE officials, and the EU’s top Brexit negotiator Markets take a breather ahead of the Fed Risk appetite cooled a little on Tuesday in a move that generally looked [..]

Technical Analysis – US 100 index surges to record high; bullish in long term

Posted on June 10, 2020 at 7:50 am GMT

The US 100 cash index skyrocketed to a fresh all-time high of 10,017.20 earlier today, stretching its bullish outlook from the 14-month trough of 6,635 posted on March 23. According to the momentum indicators the strong bullish tendency could continue as both the RSI and stochastics are continuing to flirt with overbought levels. The RSI has just jumped above the 70 level, remaining above the rising line, while the stochastic is pointing up, posting a bullish crossover within its %K [..]

Daily Market Comment – Stocks back in the black, dollar selling takes a breather

Posted on June 9, 2020 at 8:22 am GMT

S&P 500 recoups all its losses for the year, Nasdaq hits new record Optimism echoed in FX too, with dollar struggling as commodity currencies hit multi-month highs However, we are seeing a reversal of these moves today – some profit taking? Looking ahead, much will depend on what the Fed does and whether a second wave hits the US S&P turns flat for 2020, Nasdaq cruises to new highs Fear has given way to greed in an impressive way over [..]

Have stocks ‘gotten over’ the virus? – Special Report

Posted on May 27, 2020 at 3:53 pm GMT

There’s been a lot of talk for a powerful V-shaped recovery, but that has only happened in the stock market, which is ignoring the rising economic and geopolitical risks and is instead plowing higher, powered by a tsunami of stimulus. Alas, at current levels equities imply a ‘painless’ recession, which is probably much too rosy. Overall, so much optimism has been priced back in, that it would almost take a miracle for reality to match the stellar expectations. There is [..]

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