The S&P500 and NASDAQ carved out new highs following the Biden Harris Inauguration but there has been little change elsewhere. The same mantra applies: watch for any new momentum-based trend line breakouts.

There hasn’t been a lot of movement and, as previously mentioned, I suggested this could be the case until after Inauguration Day. The GBP/JPY was one outlier giving another small trend line breakout.

There has been little change to most charts to start the week due to the Monday US holiday and things may remain a bit quiet until after the Inauguration.

It’s been a messy start to the week with choppiness across many FX pairs. I think that caution is needed here as this may reflect a turn in tide with sentiment and with the trend for the US$. US$ weakness has been the dominant theme since March last year so a relief rally would not […]

I saw a Tweet yesterday where someone moaned that they can’t believe the VIX isn’t at 100. It’s hard to believe there hasn’t been more volatility in the wake of events in US politics over the last 24 hours. Despite all of the turmoil, US stocks are higher, Gold and the Yen are lower and […]