Stock market short-term technical outlook (2-3 days) _ see it market


Inauguration day is here. Binary code converter Nervous apprehension seems everywhere, creating a cloud so thick you could cut it with a knife. Usd stock Sentiment has contracted fairly rapidly in the last week, as per AAII readings (AAII now showing just a minor spread of +5 between Bulls and Bears – 37% Bulls, 32% Bears) and despite Trump’s speech likely having been carefully written, it’s truly a day that looks to be causing many to feel anxious.

With regards to markets of course, anxiety likely won’t cause the degree of breakdown that many think CAN happen. Usd cad exchange rate chart Thursday attempted to selloff, yet by the close in Futures, prices had jumped back and were nearly positive into the bell. Currency converter uk to us The NASDAQ futures were flat, down less than 5 points, or -.09%. Usd to aud conversion calculator The S&P 500, which had fallen to break the minor consolidation to the downside, failed to accelerate. Equity finance jobs By the close, the S&P 500 had also moved back up over 2260, the key area in question (which allowed it also to hold the trendline from late December). Binary tutorial Similarly, the Dow Jones Industrial Average (INDEXDJX:.DJI), which had earlier sold off under late December lows, rallied back to hold above 19718. Improper fraction to a mixed number calculator And lastly, the RUSSELL 2000 (INDEXRUSSELL:RUT), while having underperformed the entire day, didn’t break below the channel support from the peak it made in mid-December.

All in all, for a market that many believed was ripe for showing weakness, and HAD ITS CHANCE during the session when it began to violate support, never really gained much ground to the downside. Euro dollar exchange rate forecast Bottom line, more proof is needed before weighing in too negatively given the degree of resilience that’s currently being shown.

The two key developments on Thursday had to do with industrials breaking out ( I wrote about it here), and then Treasury yields also successfully exceeding their own trendline resistance. Usd eur exchange rate Both faltered a bit intra-day, but by end of day, both breakouts were intact and are believed to be valid. When does us futures market open The Rail stocks contributed to the majority of this move in the Industrials today, given CSX’s early 20% + surge, but it caused the Industrials to register counter-trend BUY signals using Demark indicators on daily charts when eyeing XLI v SPX, which should help to fuel the rest of the group in the short run. Euro to usd rate Stocks like EMR, UNP, NSC remain attractive to move higher within the group, and are specific technical buys just based on Thursday’s price action alone.

Yields breaking out above 2.43 looks meaningful, given that this level held since mid-December, and given the degree of prior positive correlation with SPX, should have a positive effect on Financials, which were strangely lower Thursday. What is binary system However, much of this likely had to do with BK and KEY earnings which seemed to be a drag on the entire sector. Commodity futures meaning Overall, I suspect that the rise in yields should be a negative for Utilities, Telecom, REITS while being a positive influence on the Banks. Dollar vs pound chart If the Dollar turns higher and accelerates similar to Yields, then commodities recent breakout attempt would prove quite short-lived. Usd rmb For now, I suspect that the anxiety around the Inauguration and ongoing resilience should make breakdowns prove short-lived and false, and that stocks likely end up following yields higher, no matter how brief.

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