DKY: Dollar index under pressure at 98.90. Must hold here to avoid another test of lows at 98.72-98-69 where it becomes a buy again with tight stop as per comment
AUDUSD: Aussie dollar already broken down v USD and is a short from these levels
GBPUSD: GBP has come back to test the break-out level at 1.29 today and bounced in text-book fashion. Whilst above here all trends remain positive for Sterling.
USDGBP: The Dollar has broken near term support at 0.78 against Sterling and is likely to decline to 0.7415 in due course. Any return to 0.78 would be viewed as another selling ooprtunity
Something snapped between FB and Nasdaq on Thursday night. What happened ? If you have any other explanation other than algorithm tweaks overnight please comment.
NASDAQ: Despite decoupling from Facebook (see comment) on Friday all trends on Nasdaq will remain positive whilst it holds up above 5577-3 range at lowest on Monday
S and P 500 Friday was a testing day for the Bulls, who just kept control of the 2382 line. But this index is beginning to flag and needs to clear 2400 to avoid a double top being created.
Cac 40 index is holding up surprisingly well at current levels waiting for someone/thing to propel it higher still. It just isn't behaving in a bearish manner, if it was it would be much weaker today so am closing short at meagre profit and thinking more about upside potential from here...am thinking I'm wrong here to be bearish because If this index can break...
DXY: The dollar index is probing key support at 98.67 which must continue to hold up if the dollar is to avoid a serious deterioration in technical outlook
USD JPY The Dollar is pushing up against strong resistance at 111-112 and is vulnerable here. It has to push up above 112 and hold to overcome increasingly bearish technicals...probably only talk of war can save it now
S and P 500: About to make another attempt to break 2398-2400. Nasdaq strength via FB and GOOG should help it achieve it this time
VIX May Futures Update - am delaying buying any more Vix futures as it should come back further over the next few days, giving an even better buying opportunity, as per comment
FACEBOOK: price action today was super-positive, with Facebook showing enough power to break above it's long term resistance line and close above it for the first time in its history. Having broken free of its shackles, this stock has moved from bullish to super-bullish. Stay long for the ride or consider call options, looking to sell just before earnings release next week
Price action in the final minutes of trading on back of Alphabet's stellar results has propelled this index free of it's last tether. There is now nothing holding this index back. Expect a sharp sustained rally to 5940 over coming weeks. And all major markets will join in for the ride (See Cac 40 for another great trade tomorrow, for example)
Alphabet looks unstoppable. If results don't disappoint this stock has 990 written on it over the coming weeks.
GLD: SPDR Gold Shares: the bulls still hold the field here whilst above the lower parallel on chart
S and P is holding up at key near term support at 2385-4. No reason for bulls to close out unless this level breaks. It now needs another earnings news boost to propel it through 2400. Cover your longs with stops under 2384 in case of disappointments....
Cac 40 Index The Cac has had a great week...so far. Now it's testing major reistance from the old highs and struggling to push through. Until it can this index is sitting duck