The S&P500 has lost some of its puff as it struggles under the resistance of the previous all time High, circa 3,400 region. The US$ index remains range-bound and, as I cast my eye over all the charts, it seems to me that many instruments are simply marking time; waiting for the next big trigger. Just when and where that comes from remains the question.
Data: watch today with an RBA Gov Lowe speech and US Retail Sales data.
DXY 4hr: still range-bound and I’ll keep adjusting the trend lines as the ADX remains below 20. Note how the Cloud is thinning and flipping to bullish coloured!
Trend line breakouts:
Gold 4hr: this pullback gave a maximum of 150 pips. Note how the 61.8% fib of the recent pullback move is up near $2,000 so watch for any test of that S/R:
EUR/USD 4hr: a small b/o for 70 pips but still under the recent High:
USD/JPY 4hr: still stuck at 107 S/R:
Other markets:
S&P500 4hr: watch 3,400 for any new make or break:
ASX-200: stuck under the recent High and recall this is the region of the weekly 61.8% Fib:
ASX-200 4hr:
ASX-200 weekly:
AUD/JPY 4hr: edging higher, albeit slowly:
NZD/USD 4hr: a bit lower but momentum is low so watch for any new b/o:
GBP/USD 4hr: still looking like a Bull Flag to me:
