Last week: The NASDAQ was the only US stock index to close higher for the week with the S&P500, DJIA and Russell-2000 all closing lower. However, those last three indices still remain above 14-month support trend lines so their trend remains up for the time being. There are some obvious headwinds in play for stocks, […]

Stocks continued their recovery last session but there hasn’t bee a whole lot happening across on FX given the US$ continues to hold near 89.70 support. There is a lot of data today so watch for any new momentum-based trend line breakouts.

The S&P500 tested the 14-month trend line again last session but recovered somewhat following the release of the Fed Minutes. The potential for tapering may have been what helped the US$ to bounce off a recent S/R level. Many instruments continue to hover near key S/R levels but the AUD/JPY is looking vulnerable to some […]

Tesla stock and Elon Musk often make the headlines but this latest TSLA news caught my attention. This being the bearish bet on TSLA stock taken by the Big Short’s Michael Burry. With this in mind, I thought I would assess the charts of TSLA to identify potential Support levels and Targets for any bearish […]

It was a mixed bag of action last session with the US$ and US stocks lower and commodity currencies a bit higher. Key S/R levels remain in focus for many instruments though so watch these, and trend lines, for any new breakout.