AUD/USD hit a 5-month high and stays above 0.7100 ahead of Wall Street’s close
Higher-than-expected Australian inflation data increased the odds of a rate hike by the RBA. Sentiment shifted mixed as Wall Street’s fluctuated between gainers/losers. AUD/USD Price Analysis: A daily close above 0.7100 will pave the way for further gains. The Australian Dollar (AUD) rose to a fresh five-month high at 0.7122 against the US Dollar (USD) […]
The Ord Oracle January 24, 2023 | Top Advisors Corner
SPX Monitoring Purposes: Long SPX on 12/20/22 at 3821.62.Monitoring Purposes GOLD: Long GDX on 10/9/20 at 40.78. Long Term SPX Monitor Purposes: Neutral.Yesterday we said, “Market bottoms form on panic, and the TRIN is one way to identify panic is present. One-day TRIN readings above 1.30 suggest panic is present in the market. The more days of […]
En route 0.8860 hurdle during four-day uptrend
EUR/GBP grinds near weekly high, up for the fourth consecutive day. Clear rebound from 50% Fibonacci retracement, upside break of 100-SMA favor bulls. One-week-old resistance line restricts immediate upside ahead of monthly top. EUR/GBP picks up bids to 0.8845 as bulls poke intraday high, as well as the weekly top, heading into Wednesday’s European session. […]
Stock Price Divergence and Potential Signs of Risk! | Mish’s Market Minute
We cannot begin the Daily without a mention of the glitch in the NYSE right out of the gate Tuesday morning. A wild stock-price swing occurred at the open and 84 stocks suddenly plunged or spiked, causing volatility triggers and trading halts. The event is now under investigation.The chart of Wells Fargo (WFC) is a […]
Advances for three days, reclaims 0.8820s
EUR/GBP finds acceptance above the 20/50-day EMAs and 0.8800. The January 13 daily high at 0.8897 will be the bull’s next target if the EUR/GBP achieves a daily close above 0.8800. The EUR/GBP hit a five-day new high at 0.8846, as positive Eurozone data outweighed bad UK PMIs, which reignited recessionary fears amongst Britons. Therefore, […]
Two Highly Entertaining Stocks to Watch | RRG Charts
After a 50% decline, you need to make a 100% return to break even.That is precisely what happened to the Communication Services sector. In August 2021, the Communications Services Select Sector SPDR fund (XLC) peaked at 85 and, from that point onward, started a disastrous decline, bringing its price back to 45, almost 50% lower. […]
XAG/USD marches towards 200-SMA inside weekly bearish channel
Silver price renews intraday high to reverse the previous day’s slump to five-week low. 200-SMA, bearish chart formation keeps XAG/USD bears hopeful. Monthly high acts as the last defense of Silver bears. Silver price (XAG/USD) picks up bids to refresh intraday high near $23.55 as it bounces off the five-week low marked the previous day. […]
Momentum vs. Price: Is the Stock Market Rally Over? | Mish’s Market Minute
Last week was the reset of the January 6-month calendar range. For the S&P 500, that range sits at 3770-4000.23.In our 2023 Outlook, the prediction we made for the yearly range is much wider, or between 3200-4200. That is based on the position of two key monthly moving averages. Looking at the 6-month range, today’s […]
DP Trading Room: What’s Up with These Yields? | DecisionPoint
On this week’s edition of The DecisionPoint Trading Room, Carl explores how yields are calculated with a few examples of yields that don’t seem ‘right’. He demonstrates how to add dividends and splits to your charts. Erin focuses in on two sectors that are leading the pack and what that means for the rest of […]
Bears eye a retracement opportunity
NZD/USD bulls are taking on major resistance as the greenback falters. Bulls eye a break of recent highs but bears are lurking. NZD/USD has come up into a major resistance and it begs the question as to whether the bulls will stay the course as we head into critical events on both the United States and […]