DAX has a look above 16,500 and takes one step closer to a new record
Following on from a series of updates this week and last, the DAX has taken one step close to a new record high this afternoon. The DAX has lifted...
Dow Jones and Nasdaq flips positions as yields fall and tech rebounds
Ever since the opening for the US stock markets today we have seen a reversal in the divergence between the Nasdaq 100 and the Dow Jones, That is to...
GBP/USD takes out double bottom at 1.2604 but rebounds on JOLTS data
Not long before the US economic releases this afternoon, the GBP/USD made a brief move below the noted 1.2604 double bottom on the daily charts. The...
Yesterday afternoon it was noted here; that the USD index (USDX) would likely see an extended move, if it traded outside of some clearly defined levels. Those were noted as being at 104.60 and 105.43. Well, the low seen ahead of the Fed was set at 104.66 and it held and then shot higher from there, as you all now know. The break above 105.43 today means the index has set a new interim high and that move has extended towards 105.75. That means the index is now at its best levels of the past 6 months, at highs not seen since March, when it topped out then at 105.88. Also, and importantly to note we almost have a perfect Golden Cross playing out on the daily charts. That is when the 50 and 100 day moving average cross above the 200 day simultaneously. The 50 day has already above (thanks to the latest price rise) and the 100 day is very close behind and could get above the 200 day before the end of the week. Its not there yet though and so it is not a done deal yet