All Articles Tagged - US500

Technical Analysis – US 500 index maintains positive bearing; momentum waning slightly

Posted on November 30, 2020 at 2:50 pm GMT

US 500 index (Cash) is consolidating just below its newly formed all-time high of 3,674, finding some stability from its red Tenkan-sen line, marginally below at 3,601. The simple moving averages (SMAs) are maintaining an unbroken bullish tone endorsing further advances. However, the flattening out of the blue-Kijun-sen line and the stalling in the climb of the red Tenkan-sen line are signalling near-term fading in the pair. The short-term oscillators suggest some easing in the upward momentum. The MACD is [..]

Technical Analysis – US 500 index edges east, capped by 50-MA

Posted on November 23, 2020 at 2:30 pm GMT

US 500 index (Cash) appears to be stuck trading between the 3,511 and 3,640 levels. The price seems to be consolidating underneath the 50-period simple moving average (SMA) after retreating from the upper boundary of the sideways move. The rising 100- and 200-period SMAs are sponsoring the positive picture, while the directionless Ichimoku lines and the flattening 50-day SMA are endorsing the short-term horizontal bias. The short-term oscillators are reflecting weak momentum but are slightly tilting to the upside. The [..]

Daily Market Comment – Stimulus fears after Mnuchin cuts off Fed emergency lifeline

Posted on November 20, 2020 at 9:46 am GMT

Treasury Secretary asks Fed to return unused emergency funds, US futures slip But some relief as Senate Republicans agree to restart talks on new virus relief bill Fresh setback for Brexit talks after Barnier has to self-isolate as time running out Fed and White House clash over emergency programs The Federal Reserve’s powers for fighting the pandemic were severely curtailed on Thursday after Treasury Secretary Steven Mnuchin took the unusual step of not extending funding for many of the central [..]

Daily Market Comment – Virus surge overshadows vaccine progress, dollar ticks up

Posted on November 19, 2020 at 10:00 am GMT

Wall Street wobbles as restrictions tighten across the United States Dollar firms across the board amid growing fears of a winter health crisis EU budget row, Brexit angst sap euro and pound Markets subdued as virus surge shows no sign of easing Vaccine optimism struggled to sustain the positive risk sentiment as investors found it hard to ignore the ever-worrying headlines about exploding infection and hospitalization rates in Europe and America. The death toll in the United States from COVID-19 [..]

Daily Market Comment – Vaccine rally eases but optimism prevails

Posted on November 17, 2020 at 9:47 am GMT

Vaccine hopes keep risk assets supported even as more US states clamp down Dow closes in on 30,000 as growth-to-value rotation accelerates Dollar steadier, euro shrugs off EU budget crisis, pound holds out for Brexit deal Oil moderates ahead of OPEC+ meeting as bleak short-term outlook curbs advances Moderna adds to vaccine euphoria The fight against the pandemic took another major step forward on Monday after Moderna became the latest pharmaceutical company to announce a vaccine for COVID-19. Moderna’s vaccine, [..]

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 [..]

Daily Market Comment – Vaccine optimism, upbeat data push stocks to new highs, dollar retreats

Posted on November 16, 2020 at 9:51 am GMT

Week gets off to positive start as vaccine, strong recovery and Biden victory drive optimism Global stocks surge as S&P 500 sets fresh record high, dollar extends slide Pound holds steady as Brexit talks enter critical phase Markets buoyed by vaccine progress and upbeat Asian data Rapid progress in the race for a COVID-19 vaccine more than offset the deepening gloom of the present virus reality as the latest wave shows no sign of waning. Expectations that last week’s breakthrough [..]

Vaccine spells trouble for Big Tech but old economy stocks surge – Special Report

Posted on November 12, 2020 at 12:56 pm GMT

Stocks around the world skyrocketed on news this week that the Covid-19 vaccine being developed by Pfizer and BioNTech is more than 90% effective in protecting against the virus. That’s a very impressive number when considering that it’s much higher than the most optimistic expectations and even more so when comparing it to flu vaccines, whose effectiveness is thought to be a lot lower at between 40-60%. Hence, it would be fair to say that the euphoria in the markets [..]

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 [..]

Daily Market Comment – Post-election rally eases as Biden advances in swing states

Posted on November 6, 2020 at 9:59 am GMT

White House race remains too close to call but Biden win becoming more likely Equity rally cools as markets give Washington gridlock a thumbs up Dollar steadies with Treasury yields as Fed keeps policy on hold NFP up next but US election and record virus cases to stay in focus Biden inches towards victory in knife-edge election The US presidential election remains an open race as counting enters day four, though the odds appear to be moving in favour of [..]

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