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Thurs am Technical Video, TODAY TECHNICAL WEBINAR INFO.. S&P , Europe spiking, but trends intact- Dollar weakening

Thursday am Technical Video

https://stme.in/gE46BMd2ep

 

 

 

Equity futures higher by nearly 0.75% this am while Europe up by nearly 1.5% and Asia lower.  However, trends remain lower for Europe and US and largely NEUTRAL for US indices with prices largely unchanged from the last week-  Bond yields pressing higher while US Dollar down over .50, a large move this am with both Euro and Pound.   KEY news in the last 24 hours centered on ECB members saying hikes might come earlier than next December which is what market had priced in, as Draghi set to step down next October.. so very well could see Rates hiked in Sept or Oct ahead of schedule to help Draghi reverse rates to end his tenure

This Dollar decline is helping Emerging mkt currencies stage a larger than avg bounce when looking at Turkish Lira, Hungarian Forint, S African Rand, and Polish Zloty and further Dollar weakness in the days ahead looks likely and might help this bounce extend more into mid-month in Emerging markets overall after recent weakness

Early gainers in FCAU, ISCA, HK, AXON, FTR, HMNY, HEAR, MU, ALV, PX, GERN, NOG, GM, VNE, BJ, RACE, AVXL, LITE, TEUM, BBVA, AU while on downside:  ZYNE, AMSC, CLNE, VKTX, SNE, INFY, TTM, BLRX

 

Today’s Technical Webinar info:

Today 1pm EST- https://join.startmeeting.com/info69336

  Dial-In Number (United States): (701) 801-1211, Access Code: 840-955-999

 

S&P’s hourly chart showing the rangebound nature of the last week.  And while today’s sharp premkt gains have largely recouped Tuesday’s weakness, the broader channel remains NEUTRAL from June 25th

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Key resistance lie s at 2747, which marked peaks in S&P on Tuesday, last Friday, and last Wednesday

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EURUSD gains this am look likely to extend, given the breakout above the minor downtrend from April as well as prior highs

This should allow for the start of a larger bounce in the Euro, and the Dollar weakness very well could affect EM positively also in the days ahead

 

 

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COPPER continuing to drop, and has accelerated further under 2.86 after its break of former lows-  Given the break both of the last few months lows and larger 2-year uptrend from 2016, this looks to extend further