The S&P500 has recovered a bit of lost ground in recent sessions but it closed the last one with an indecision-style candle AND still under major resistance. There are many commentators suggesting this is simply a bear market rally but others calling this the start of the next grand Bull market! Either way, from a technical point of view, […]
I’ve long been seeing the NASDAQ in a bullish ascending triangle, akin to those on the S&P500 and DJIA, and I still am but I’m having a re-think of the key resistance level here. My previous focus was on clearing 4,800 which was just above the previous highest-ever monthly close. I’m now shifting focus to […]
Aussie stocks have not enjoyed the same level of success as their global counterparts since the GFC. The XJO index, the ASX-200, has not reclaimed the highs it printed prior to the stock market collapse and is currently trying to defend the psychological 5,000 level. This compares poorly to the S&P500, DJIA, NASDAQ, DAX, FTSE and […]
It has been a bit of ‘paint-dry’ stuff across many FX pairs today but the Aussie ASX-200 had another wild ride although, essentially, the index remains range bound. The advantage of this however is that it gives us technical traders some trend lines to focus on!
The S&P500 is consolidating under major resistance ahead of Thursday’s FOMC meeting and there are some key levels and trend lines worth watching for potential breakouts once FOMC news has been released. The 2,000 level is a major S/R zone above current price action and one of the the key levels to watch.