All Articles Tagged - US500

Technical Analysis – US 500 index breaches MAs, attempts to resume climb

Posted on May 18, 2020 at 7:20 am GMT

US 500 stock index (Cash) in previous sessions found a foothold at the advancing 200-period simple moving average (SMA) currently at the 2,789 level, that being the 50.0% Fibonacci retracement of the down leg from the all-time-high of 3,396.64 till the 39½-month low of 2,183.95. At present, the price has pierced above the mostly flat 50- and 100-period SMAs and the positive move seems to be backed by the short-term oscillators. The MACD in the negative zone is above its [..]

Daily Market Comment – Powell warns of lasting virus damage, empowers dollar but sinks stocks

Posted on May 14, 2020 at 8:49 am GMT

Fed Chair Powell delivers bleak assessment of US economy but rules out negative rates Dollar stands tall as Wall Street takes a dive, pulling global stocks with it Pound and kiwi slip to multi-week lows, aussie and loonie also on the backfoot Powell’s dire warnings kill hope of speedy recovery Fed Chairman Jerome Powell’s much anticipated speech took centre stage on Wednesday as the head of the world’s most powerful central bank delivered a detailed but grim view of the [..]

Technical Analysis – US 500 index’s advances under pressure

Posted on May 11, 2020 at 9:36 am GMT

US 500 stock index (Cash) is struggling to overcome the 2,935 level, that being the 61.8% Fibonacci retracement of the down leg from the all-time high of 3,396.64 until the 2,183.95 low, after acquiring some footing on the Ichimoku cloud’s upper band at 2,791. The positive tone of the Ichimoku lines and the short-term oscillators further back an advancing view. The MACD, in the positive section, is holding just above its red trigger line, while the RSI is creeping higher [..]

Technical Analysis – US 500 index stalls after fading ahead of 2,986 border

Posted on May 4, 2020 at 12:15 pm GMT

The US 500 stock index (Cash) is inactive at the 2,789 level, that being the 50.0% Fibonacci retracement of the down leg from the all-time high of 3,396.64 till the 2,183.95 low. The price appears stuck between the lower Bollinger band of 2,767 and the 100-period simple moving average (SMA) at 2,827. Turning to the short-term oscillators, the RSI and the stochastics promote advances as does the 200-period SMA, which is building an incline. Moreover, the 50- and 100-period SMAs [..]

Daily Market Comment – Stocks jump on virus drug hopes; Fed’s blank cheque pressures dollar

Posted on April 30, 2020 at 8:21 am GMT

Global stocks extend gains on potential treatment for coronavirus and dovish Fed But Trump’s China blame-game caps gains Powell signals more stimulus may be needed, puts dollar on backfoot ECB next on the agenda; will it pump more stimulus? Remdesivir boosts stocks again despite question marks Positive results from two clinical trials on the effectiveness of Gilead’s remdesivir drug once again raised hopes that the deadly coronavirus that has plunged the global economy into its worst crisis can be defeated. [..]

Daily Market Comment – Oil plunges again despite lockdown exits; gold down too

Posted on April 28, 2020 at 8:34 am GMT

Threat of another crash in oil prices after biggest oil ETF dumps holdings in June contracts But markets otherwise enjoying a rare calm as lockdown measures are slowly relaxed Stocks and dollar hold steady but gold and kiwi skid Oil’s woes persist as WTI plunges WTI oil futures are on track for a second day of hefty losses as the commodity remains heavily pressured after the biggest oil exchange-traded fund (ETF) yesterday said it plans to sell all its WTI [..]

Technical Analysis – US 500 stock index’s positive picture stalls; edges sideways

Posted on April 28, 2020 at 6:54 am GMT

US 500 index (Cash) is experiencing some limitations around the 2,893 resistance, where the upper Bollinger band presently resides. The smoothed appearance in price action over the last two weeks is also demonstrated in the flattening of the 200-period simple moving average (SMA), as the price holds between 2,893 and 2,708. The short-term oscillators also reflect the stall in price and suggest a weakened state of directional momentum. The MACD, in the positive zone, is flattening slightly above its red [..]

Daily Market Comment – Drug disappointment burns stocks; Euro crumbles

Posted on April 24, 2020 at 8:34 am GMT

Equities turn red after would-be miracle drug Remdesivir fails clinical trial Euro dives as EU drags feet on recovery fund, disagrees on debt sharing Yen pares gains on reports BoJ will ramp up stimulus next week Oil extends bounce, but rebound likely fragile Virus-drug disappointment bites stocks A rally in global stock markets faltered yesterday, with the S&P 500 giving up early gains to close practically flat and futures pointing to more pain on Wall Street today, following headlines that [..]

Daily Market Comment – Trump threatens war with Iran, lifts oil

Posted on April 23, 2020 at 8:33 am GMT

Trump turns up the aggression with Iran, oil likes it But unlikely that this is a sustainable rebound Euro suffers after terrifying PMIs, awaits EU leaders meeting Stocks recover, yet safe havens thrive too Oil prices recover as Trump rattles sabers with Iran All the troubles in the oil market were magically resolved by a single tweet from the US President yesterday, who said that he instructed the US Navy to destroy any Iranian gunboats harassing American ships at sea. [..]

Daily Market Comment – Oil carnage spreads to stocks

Posted on April 22, 2020 at 8:29 am GMT

Oil price collapse continues, sending shivers through stock markets Trump signals bailouts for US producers, but paradoxically, that could worsen oil’s plunge Dollar pares gains after Trump’s bailout talk, pound softens on Brexit comments Euro in focus as investors flee Italian bonds before tomorrow’s EU summit Trump hints at bailouts as oil crumbles Energy markets can’t catch a break, with Brent following WTI lower this time to touch a low last seen during the Gulf war, as the devastation in [..]

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