Support for the US$ faded on Thursday and this means the US$ index remains within the resistance of the daily Cloud. Most charts are little changed and look to be in holding patterns ahead of Friday’s batch of high impact data. The one exception was the Cable which popped and triggered a decent breakout.

The continued rise in US Treasury yields helped keep the recent stock rally in check in spite of up-beat US Retail Sales data.  The US$ is a bit stronger but still range-bound for the time being. This current environment has been unhelpful for Gold and this has been one of the better trend line breakout […]

The holiday Monday in the US has kept markets relatively quiet and the US$ remains range-bound. There was a risk-on tone during the Asian session though with a weaker Yen and the ASX-200 closing higher and this has helped to trigger some trend line breakouts.

Last week: There were no trend line breakouts of note last week and I suspect this might have been due to the continued range-bound nature of the US$ index and the looming US holiday long weekend and Lunar New Year holiday week. The S&P500, NASDAQ, Russel-2000 and DJIA all closed last week with bullish candles […]

There hasn’t been a whole lot movement again and it feels to me like the something is brewing. Just what…I’m not sure but momentum is declining across a number of instruments suggesting it might be best to wait for any new momentum breakout. The DJIA closed at a record high but the daily candle here, […]