Stocks slipped late on Thursday due to a ramping up of US-China trade tensions and President Trump’s clampdown on social media outlets. Friday is shaping up as important day as the S&P500 will, no doubt, try to hang in above the key 3,000 so watch to see how Trumps news announcement regarding China impacts here.
The DXY is a bit lower but there hasn’t been a lot of change since yesterday’s update. It feels like the markets are marking time whilst waiting for the next event to trigger some decent move. The S&P500 is above 3,000 BUT the big test will be to see if the index can close the […]
Risk-on sentiment kept rolling yesterday as did US$ weakness and this helped to trigger a number of trend line breakout trades based off chart patterns profiled in my weekend analysis. There were also numerous accompanying short-term breakout signals (TC signals too) that were of great value.
It has been a rather quiet start to the week given the US Memorial and UK holiday Monday. The US$ Index is little changed since my weekend update as are most of the currency charts I review. Stocks remain bid though so keep watch of that space for clues as to overall risk sentiment.
Last week: US stock indices closed higher again last week despite the continued economic challenge faced with Covid-19. I often hear and see the phrase ‘never fight the Fed‘ and this seems increasingly relevant at the moment. I’ve noted my surprise over the last few weeks with these paradoxical moves across stock markets amid the […]