The US$ and S&P500 index are trading near major resistance zones as the week comes to an end. This is keeping many of the trading instruments that I monitor in range-bound activity. However, some late news about plans to re-open parts of the US and about a Covid-19 drug have helped to lift risk-on with […]

The last trading session saw a more aligned shift to risk-off as concern about the impact of Covid-19 on global economies resurfaced. However, most chart patterns are in a time-out kind of mode with price action consolidating on low momentum. President Trump is just out claiming the peak of the virus has passed in the […]

The US$ is lower which has helped to support Gold and some FX pairs. There are mixed messages though with stocks looking forward, in a ‘better days to come’ kind of mode, and trading higher BUT Oil is trading lower on demand worry. The daily chart of the currency strength indicator is worth consideration as […]

The S&P500 will be closely scrutinized in coming sessions to see whether price action might mirror what was experienced back in the last major market pullback of the Global Financial Crisis (GFC) 2008-2009. In this post I compare current price action of the S&P500 with charts from back in the GFC era and note key […]

Last week: The central theme of Easter is Resurrection and the AUD$ certainly channelled this last week with trend line breakouts on the AUD/USD and AUD/JPY delivering close to 600 pips between them. These were the best of the few breakout trades available last week and the shortened trading week to come, with the holiday Monday, […]