Mon, Apr 19, 2021 @ 14:52 GMT
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US Open: Stocks Consolidate at Record Highs, Earnings in Focus

US futures are easing lower after the Dow Jones & S&P 500 hit record highs on Friday. Earnings will step up a gear this week with Netflix, Johnson & Johnson, IBM & Coca-Cola due. USD slumps to 6 week lows. US futures Dow futures -0.2% at 34122 S&P futures -0.3%...

Pull Back in Treasury Yields Boosted Stocks to New Record, Dollar Set Up for More Downside

Dollar tumbled broadly again as falling treasury yield pushed US and German stocks to new record highs. Near term trend in the greenback should have reversed, but it's unsure whether it's ready for medium term down trend resumption yet. At least, EUR/USD will have to break through 1.2 handle...

Dollar Tumbles as DOW Hits Record, Aussie Shrugs RBA

Dollar trades broadly lower this week so far, following the strong record close in stocks overnight. Nevertheless, Yen and, to a larger extent, Swiss Franc are not following the selloff much. Commodity currencies are trading broadly higher together with Sterling. Aussie yawns RBA rate decision, which provided nothing new...

S&P 500, DOW hit new record as up trend continue

US stocks surged sharply overnight, with S&P 500 and DOW closing at new record highs. S&P 500 rose 1.44% or 58.04 to 4077.91. It's now close to 61.8% projection of 2191.86 to 3588.11 from 3233.94 at 4096.82. Based on current momentum, this projection is more likely to be taken...

US 30 Index Resumes Bullish Bias; Upside Risks Improve

The US30 stock index (Cash) has currently crept over the all-time high of 33,253 and is headed for the 33,638 level, which happens to be the 261.8% Fibonacci extension of the down leg from 28,900 to 26,065. The sturdy advancing simple moving averages (SMA) are defending the bullish structure,...

Risk Sentiments Turned On Again, But Euro Likely to Stay Weak on Third Wave

After staying cautious for most of the week, risk sentiments were turned on again towards the end, bringing DOW and S&P 500 to new record highs. Aussie, Kiwi and Sterling staged a strong come back while Yen and Swiss Franc were deeply sold off. Yet, Dollar ended as the...

US 30 Index’s Gains Curbed by 32,800 Mark and Ichimoku Cloud

The US 30 stock index’s (Cash) recently found foothold at the 32,068 level has elevated its price into the vicinity of the 50-period simple moving average (SMA). In spite of this, instantly limiting additional price gains is the 32,800 barrier coupled with the cloud’s upper frontier. Regardless of the...

US Stock Indexes Gain But Not Nasdaq

US stocks tended to gain, as optimism for the US economic recovery may have gotten a boost from the financial data released yesterday. Characteristically the weekly initial jobless claims figure was lower than market expectations, reaching the lowest level since the start of the pandemic and its adverse effects...

Sentiments Turned Cautious on Yields and Infections, But Stay Positive

US treasury yield jumped last week after Fed gave way to more yield strength. In the background, there were some concerns over resurgence of coronavirus infections in some countries like France, Brazil and India. There was also risk of slower than originally expected vaccine rollouts. Tensions between US China...

DOW and S&P 500 closed at records as Fed Powell well received by investors

Fed Chair Jerome Powell's post meeting press conference was generally taken well by investors. Both DOW and S&P 500 closed at new record highs, albeit slight higher ones. 10-year yield pared back some gains to close up 0.020 at 1.641. Dollar, on the other hand, weakened broadly on risk-on...

DOW, SPX and DAX Hit Records While US Yield Surged, CAD Shone

Global equities struck a strong note in ending last week, with help from fresh US stimulus and ECB's pledge to accelerate asset purchases. Yen, Dollar and Swiss Franc ended as the worst performing ones. Canadian Dollar was the strongest on the back of risk-on sentiment, while additional supported up...

Sentiments Approved after US 10-Yr Auction, ECB Comments on Yields Awaited

Australian Dollar leads other commodity currencies higher today on improved market sentiments. Asian stocks are trading generally higher, following the record close in DOW overnight. Investors found some comfort from the soft yet acceptable 10-year auctions. Dollar, Yen and Swiss Franc turn softer as a result. Now, focus will...

DOW hit record as Congress passed stimulus package, targets 33k

DOW hit near record high overnight, with help from retreat in bond yields, as well as passage of the USD 1.9T economic stimulus package. The bill was parted in the House by 220 to 221, after going through the Senate with 50.49 on Saturday. The bill will now head...

Sterling Strengthening While Yen Selloff Continues

Dollar retreats mildly in Asian session today as overall market sentiments improved some what. Major Asian indices, except China, recovered notably, following DOW's rally. But weakness in US tech is keeping upside capped. Selloff in Yen and Swiss Franc, and to a lesser extend Kiwi, is still the main...

DOW hit intraday record high, NASDAQ underwhelmed again

US stocks ended mixed overnight, probably on sector rotation. DOW closed up 306.14 pts or 0.97% at 31802.44. That came after hitting intraday record high at 32148.04. However, S&P 500 dropped -20.59 pts or -0.54% to close at 3821.35. NASDAQ dropped deeply by 310.98 pts or -2.41% to close...

US 30 Stock Index Halts Rally Near Familiar Resistance Line

The US 30 index (cash) gave up some ground after unlocking a new record high of 32,072 near the key resistance line, which connects all the peaks from June onwards. The upper boundary of the Ichimoku cloud and the 23.6% Fibonacci of the 26,065 – 32,072 up leg, however, managed...

Global Stocks Retreat As US Treasury Yields Jump

Global stocks retreated after a steep rise in US Treasury yields. In the United States, the Nasdaq 100 index declined by more than 275 points while the Dow Jones fell by 355 points. In Asia, the Hang Seng and Nikkei 225 indices have fallen by more than 1.5%. This...

A Wild Week of Metals, Yields, Stocks and Dollar

Just after DOW hit new record high in the middle of last week, the rally was choked by skyrocketing treasury yields. Dollar surprisingly ended as the strongest one for the week, followed by Euro and then Sterling. Australian Dollar suffered most as it reversed some of the month's gains....

Yields Up, Stocks Down, Dollar and Yen Rebound

US stocks suffered steep selling overnight on sharp rally in treasury yields, and the selloff carried forward to Asian markets. Yen and Dollar ride on the turn in risk sentiments and rebounded, together with Dollar. Australian and New Zealand are in deep pull back, together with Sterling. Euro and...

S&P 500 and DOW not looking bad despite pull back, NASDAQ vulnerable though

While US stocks suffered steep selloff overnight, the outlook isn't generally that bad yet. S&P 500 is still holding well inside rising channel, and above 55 day EMA. The trend defining support of 3694.12 is indeed still a bit far away. So, outlook is staying bullish, in a way...

Team Risk-On Extends Leads as DOW Hits New Records

As DOW hit another record with strong rise overnight, team risk-on is extending the lead over team risk-off in the currency markets. New Zealand Dollar is having a mild upper hand over Australian, Canadian and Sterling for now. But the Loonie is trying to catch up with rising oil...

DOW hits new record on Fed Powell assurance, NASDAQ also rebounds

DOW surged to new record high overnight as markets took Fed Chair Jerome Powell's message from the semiannual testimony clearly. That is, Fed is in no way near stimulus exit. The economy is "a long way" from Fed's employment and inflation targets. He reiterated that Fed "will not tighten...

US 30 Index Fails To Jump To New Record High

The US 30 stock index (Cash) rebounded off the 29,642 support level, however, the current market reaction is flat around the record high of 31,718.90. The technical indicators are suggesting contradicting signals. The RSI is moving marginally higher in the positive area, while the stochastic is falling from the...

Dollar Selling Takes Off as US Stocks Hit Records

Dollar's selloff finally took off overnight as US stocks were boosted further to new record highs on reflation trade and vaccine optimism. Selling is really broad based this time, as the greenback tumbled even against Yen and Swiss Franc. For now, New Zealand and Australian Dollars are the strongest...

DOW finally made new record high, targets 32932 next

DOW finally caught up with other major US indices and closed at record high overnight, up 0.76% at 31385.76. The solid support from 55 day EMA affirmed near term bullishness too. Further rise is now expected as long as 29856.30 support holds. Next target is 61.8% projection of 18213.65...

US 30 Index Completes Bullish Run Near Record High

The US 30 index (Cash) rebounded off the 29,642 support level, posting four straight positive days and climbing above the 20- and 40-day simple moving averages (SMAs). The price is moving towards the record high of 31,284, while the technical indicators are confirming the upside tendency. The RSI is standing...

Two Trades To Watch: Dax, Nasdaq

Dax rises on global recovery optimism Stocks are on the rise amid optimism surrounding a huge US stimulus package and on vaccine rollout optimism. As the global vaccination effort accelerates hopes of a strong economic recovery in Q2 onwards are gaining momentum. German composite PMI final reading January expected to confirm 50.8. Eurozone...

Elliott Wave View: Dow Futures Attempting All-Time High

Cycle from March 2020 low in Dow Futures (YM_F) still remains intact as a diagonal 5 waves. In the 60 minutes chart below, we can see wave ((3)) of the diagonal ended at 31188. Wave ((4)) pullback is proposed complete at 29550 as a double zigzag Elliott Wave structure....

US 30 Index’s Pullback Contested by 38.2% Fibonacci

The US 30 stock index (Cash) has found footing on the 30,047 level, which happens to be the 23.6% Fibonacci retracement of the up leg from 26,065 until 31,284, after receding from its latest all-time high of 31,284. Yesterday’s losses saw the index pierce below the 50-day simple moving...

Dollar Jumps on Sentiments U-Turn, But Upside Still Capped

The sharp turn in risk sentiments overnight pushed "safe-haven" currencies generally higher. Among them, Dollar is currently outperforming both Swiss Franc and Yen. On the other hand, Australian Dollar is leading other commodity currencies lower. Euro and Sterling are mixed, with the Pound having a slight upper hand. Technically, the...