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US100cash

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Technical Analysis – US 100 index within breathing distance of all-time high

Posted on May 26, 2020 at 8:33 am GMT

The US 100 stock index (cash) enjoyed a very powerful rebound in recent weeks, posting higher highs and higher lows above an upside support line drawn from the March lows, and is now approaching its all-time high of 9,751. Adding credence to the improving technical picture, the 50-day simple moving average (SMA) just crossed back above the 200-day one, forming a so-called ‘golden cross’. Short term oscillators are on board with a mostly positive outlook. The RSI – already above [..]

Daily Market Comment – Nasdaq charges higher, pound feels heat of negative rates

Posted on May 21, 2020 at 8:23 am GMT

Stocks defy economic gravity; Nasdaq closes in on record highs But markets more cautious Thursday, after Trump’s twitter storm vs China Pound rebound falters as BoE Governor doesn’t rule out negative rates Dollar finds its footing ahead of speeches by Fed’s top echelon Nasdaq approaches all-time high, but futures retreat Close your eyes and you wouldn’t know we are in the middle of a deep recession. At least not by looking at the Nasdaq 100 (+2%), which closed less than [..]

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Technical Analysis – US 100 index dreams of February’s record highs as rally continues

Posted on May 20, 2020 at 3:12 pm GMT

The US 100 stock index (cash) has almost recovered from the covid-19 injury, comfortably recouping the lost ground within the 9,000 territory this week and further deviating above its simple moving averages (SMAs). According to the strengthening RSI and the rising Stochastics, there is more bullish fuel in store, which could drive the price towards its record-high of 9,750 registered in February. For that to happen, though, the 9,460 resistance needs to give way first, while in case the market [..]

Daily Market Comment – Stocks soar ahead of worst NFP ever on bets Fed will go negative

Posted on May 8, 2020 at 8:04 am GMT

US nonfarm payrolls today will be a horror show, but will markets care? Stocks set for more gains on trade news and bets Fed will cut to negative Dollar and yen retreat amid risk-on mood, but losses limited Commodity currencies climb, loonie eyes its own jobs report Worst nonfarm payrolls ever, by far The disconnect between sanguine financial markets and an imploding real economy grows larger by the day, as bets for more and more stimulus are leading Wall Street [..]

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