Technical Analysis

National Australia Bank technical analysis on AUD/yen ()note the time scale of the chart – this is a longer-term picture: NAB note the break of the downtrend line but the upside is not yet secured.  The September month-end close is now crucial. Above 77.40/60, MT uptrend confirmation remains in play. Below 75.43 the risk of
Dow moved to positive briefly and reversed.  S&P and Nasdaq move back toward lows Just when you think the stock market was on it’s way to erasing earlier declines, the prices reverse and tumbled lower. The NASDAQ continues to lead the way to the downside. The Dow is the better performer but is still down -1.02%
German DAX up marginally. France’s CAC flat. The European major stock indices are close for the day. The results are mixed. The provisional closes are showing: German DAX +0.1% France’s CAC, flat UK’s FTSE 100 -0.4% Spain’s Ibex, +0.80% Italy’s FTSE MIB -0.3% In the European debt market, the benchmark 10 year yields are lower with German
Not a pretty day Yesterday we filled Tuesday’s gap lower. Today we filled Wednesday’s gap higher. The S&P 500 is down 65 points to 3334, or 1.9%. It’s nearly 100 points from the highs of the day. Looking at the euro, the climb on Lagarde’s comments was the ‘right’ trade, even if it didn’t change