The S&P500 turned lower last session and there are lots of reasons being offered for this move from Apple and Amazon Earning results, rising US Unemployment and end of month profit taking. I’d like to offer another reason and this is the turn being due to resistance from the major 61,8% Fibonacci region. The next […]

There is a saying that markets are ‘forward looking’ and that has certainly been the case in the last session. Weak US GDP and US food shortage concern was shrugged off in favour of hope of a Covid-19 treatment and a re-opening economy. The S&P500 is now in the vicinity of the key 61.8% fib […]

Both the US$ and S&P500 are struggling under key resistance levels and this is dictating activity across the markets. Watch to see if today’s FOMC impacts here.

US stocks closed higher on optimism about the economy re-opening but the US$, although lower on the day, remains range-bound near 100 S/R. This bit of US$ weakness did trigger some small trend line breakouts. The S&P500 is almost up to the key 61.8% Fibonacci level so, as per my weekend analysis, watch this region […]

Last week: The US major stock indices of the S&P500 and DJIA remain in focus as traders and analysts around the world watch to see whether this latest price action is shaping up as a V-shaped recovery or a dead cat bounce. This uncertainty kept price action on many trading instruments in range-bound chart patterns […]