Technical Analysis

Trades above and below its 100 hour moving average today The USDJPY continues to consolidate in up and down trading action.   Looking at the hourly chart above, a top side trendline currently comes in at 106.63 and a bottom side trendline comes in at 106.25.  In between the two trendlines sit the 100 hour moving average 106.444 currently.  The
The S&P index fell -23.11 points or 0.79% at 2900.53 The NASDAQ index fell -54.25 points or -0.68% at 7948.56 The Dow industrial average fell -173.35 points or -0.66% at 25962.42 The major indices open lower but did recover midday and traded marginally higher before reversing and moving back down.    The European indices were higher earlier in the day, but gave up
Major indices close up 1.2% or better The major US indices are closing with provisional gains of 1.2% or better. The numbers are showing The S&P index rose  41.12 points or 1.44% at 2888.71 The NASDAQ index rose 129.38 points or 1.67% at 7895.99 The Dow rose 306.62 points or 1.20% at 25886.01. For the week, despite the solid gains today, the major indices are ending the
MA will be remembered for the bounces on dips… The price of gold is trading down $-9.08 at $1514.21. The low price extended to $1503.77. The high price reached $1528.10 today. At the session low today, the price stalled at its 200 hour moving average (green line in the chart below). On Tuesday, its low also approached the 200 hour moving average and found buyers.
Solid gains for the major indices The European stock markets are closed for the day and for the week and they are ending with solid gains after a not so solid trading week: German DAX, +1.2% France’s CAC, +1.2% UK’s FTSE, +0.7% Spains Ibex, +1.1% (best day in six months) Italy’s FTSE MIB, +1.51% For the week,
Major indices all up over 1% The US major stock indices are all trading above 1% on the day: S&P index, +1.33% NASDAQ index, +1.57% Dow industrial average, +1.05% Looking at the daily charts of each, the price action this week took the price below the hundred day moving averages, but prices have been able to stay above lower