All Articles Tagged - US30

Stock Market News – Sea of red for European bourses on strong euro; US indices weaken despite soft dollar

Posted on July 21, 2017 at 1:15 pm GMT

All major European bourses declined but a number of blue chips swung into the black thanks to positive updates. The euro’s rally to a two-year high in the past 24-hours has seen the pan-European STOXX 600 turn downwards with the four main country indices falling by more than 1% today. Investors with positions in large European exporters got cold feet today due to the stronger euro, inducing a sea of red across European equity indices. Germany’s DAX fell by 1.6% by [..]

Technical Analysis – US 30 index close to all-time high; remains bullish in the medium-term

Posted on July 19, 2017 at 12:03 pm GMT

The US 30 index reached an all-time high of 21,681.30 during Friday’s trading. It has been declining so far this week but remains close to the all-time high level. The MACD indicator is positive and above the red signal line, suggesting a bullish bias in place. Despite this, the momentum in the very short-term seems to be negative as indicated by the stochastics. Specifically, the %K line is heading lower after crossing below the slow %D line. Should the index [..]

Technical Analysis – US 30 index declines to reach one-week low; medium-term outlook remains bullish

Posted on June 23, 2017 at 10:53 am GMT

The US 30 index is on its fourth day of declines after reaching an all-time high of 21,539.10 on Monday. Today’s decline has led the index to record a one-week low of 21,340.70. Technical indicators such as the RSI and stochastics are pointing to a change in short-term momentum for the index. The RSI is theoretically in bullish territory at 60, but it has steeply fallen from overbought territory to reach its current level. In addition, the indicator remains downward [..]

Investment Theme – Intense tech sell-off an end to incredible rally or mere profit-taking?

Posted on June 12, 2017 at 3:06 pm GMT

The sharp drop in technology stocks on Friday acted as a drag on major Wall Street indices, predominantly on the Nasdaq Composite, an index heavily-weighted towards information technology stocks. The IT sector was, prior to last week’s setback, dominating share price growth in US equity markets during the course of the year. It is also interesting that the sell-off that took place towards the end of last week’s trading was particularly noticeable among the biggest names in IT. Stocks in [..]

Investment Theme – End of Trump rally boosts safe havens but is it too early to bring out the bears?

Posted on May 18, 2017 at 3:01 pm GMT

The latest controversy in the White House appears to have been the nail in the coffin for the Trump rally that gripped the markets when Donald Trump unexpectedly won the US presidential election on November 8. The Trump campaign’s promises of big tax cuts, massive infrastructure spending and deregulation boosted equities not just in the US but globally too, and led investors to anticipate a faster pace of rate increases by the Fed due to the potential lift to economic [..]

Technical Analysis – US 30 stock index still consolidating, moves into cloud

Posted on April 11, 2017 at 10:59 am GMT

The US 30 stock index has been consolidating since hitting an all-time peak of 21170.40 on March 1. Prices have consequently entered the Ichimoku cloud and this underlines the neutral bias in the near term. RSI is also painting a neutral picture as it has been hovering around the 50 level since late March. The longer-term outlook remains bullish given the positively aligned and upward trending 50- and 200-day moving averages (MA). However, the recent consolidation has weakened the positive [..]

European Session – Dollar index below 99 on Trump reform concerns; index lowest in four months

Posted on March 27, 2017 at 3:04 pm GMT

In today’s European session the dollar continued declining on the back of Friday’s failed attempt by the Trump administration to repeal the previous administration’s Affordable Care Act (ACA), widely known as Obamacare. In terms of economic data, the Ifo surveys measuring business morale in Europe’s biggest economy, Germany, all exceeded expectations. The dollar index fell below the 99 level for the first time since November 11 to reach 98.86 and was last down seven-tenths of a percent relative to Friday’s [..]

Technical Analysis – US 30 index bullish above both moving averages

Posted on March 21, 2017 at 1:13 pm GMT

The US 30 stock index is currently up from the day’s open and relatively close to the 21000 level. The short-term bias as shown by the RSI is bullish as the indicator well exceeds the 50 neutral level. Specifically, it is at 66 after coming off from overbought levels in early March. Turning to the Ichimoku analysis, the positive alignment when the Tenkan-sen line (red) crossed above the Kijun-sen (blue) is still in place. This reinforces the positive short-term signal [..]

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