Most chart patterns are little changed with the exception of the S&P500. US stocks slipped due to Covid-19-related economy concern. Like I mentioned yesterday, traders might need to wait for NFP before we see any significant market movement.

Gold has dipped and this triggered a reasonable trend line breakout but most other charts are displaying holding patterns. Markets might chop sideways until after this week’s NFP so caution is needed until that data release.

Stocks have re-bounded off recent Lows but the point to note with these moves is that they are of low momentum. Most chart patterns are little changed since my weekend update so keep watch of trend lines for any momentum breakouts. Also, keep a close eye on Oil as this looks like it’s shaping up […]

Last week: The heightened market volatility continued last week and this helped to deliver another huge batch of great trend-line breakout trades. Significant among these was the Cable for around 500 pips and Gold for $140! There were many more though and these are summarised later within this post. The anticipated US$ weakness developed but […]

The US$ pulled back to a key technical support level last week but, unless this is broken, the trend remains ups. The FX Indices are back to being divergent so extra caution will be needed with Forex trading.