Corrects about 38.2% of the 2-day move higher The price of July crude oil contract has moved back below the $32 level. It currently is up Looking at the tick chart, the last hour or so has seen the price move to a $31.08. That was just above the 38.2% retracement of the 2-day trading […]
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S&P trades at highest level since March 6 today
Extend above the April high of 2954.86 The market still has a lot of cash floating around from global stimulation, and that is helping the positive bias. Hopes for a reopening without incident is also helping the market.
European shares end the session with strong gains
German DAX surges by 5.6% the major European indices have gotten a big boost to the upside with help late in the day by the German Franco proposed reconstruction plan.
EURUSD takes the EU reconstruction plan positively
Price moves above the high from last week The EURUSD is taking the construction plan from Macron and Merkel positively. The price has now moved above the high price from last week at 1.08957. The price is also moved above the 50% retracement of the move down from the May 1 high to the May 7 low. That level [&hell
New lows for USDCAD as trend move lower continues.
Move to the downside is accelerating More recently the price has moved below the 61.8% retracement of the move up from last week's trading at 1.3991.
AUDUSD moves up toward 100 day MA
Last week's high stalled at the MA level (although there were failed breaks too) The AUDUSD is up on the day, helped by the "risk on" flows. Stocks continue to move higher (S&P, Nasdaq and Dow are near session highs). Gold has given up gains. Crude oil is higher by 10% (July contract). In
Pres. Trump is with the most of the world
Except China…. China's Xi has proposed an independent probe of the coronavirus with the WHO leading that investigation. Australia has pushed for an independent probe, but not using the WHO. A number of countries have supported the probe including Japan, and Britain, Canada and the whole of the 27 EU members.
Gold reverses lower and trades back in the red
Earlier gains erased The price of gold is trading back in the red after move to the highest level since October 2012. The price took out the high from April 14 at $1747.36 on the run higher but has since moved back below that level. It represents a risk level for sellers looking for more […]
NAHB housing market index for May 37 vs. 35 estimate
NAHB housing market index from May Single-family sales: present 42 vs. 36 single-family sales: future 46 vs. 36 perspective buyers traffic: 21 vs. 13 For the year,
Dow leads the move higher. Nasdaq lags but still up smartly
Dow up 3.21% The Dow is leading the way in early NY trading for the week. The industrial average of 30 stocks is currently trading up over 3.2%. The NASDAQ likes. You can argue that the Dow stocks are playing catch up. They still remain down -14.34% on the year. While the NASDAQ index is currently up […]