Monday, June 13, 2016

US Retail Sales (MoM) (May)

Tomorrow 12:30  Tues, JUN 14

The "retail control group", published by US Census Bureau, represents the total industry sales that are used to prepare the estimates of PCE for most goods.

Wed, JUN 15
18:00    US Fed Interest Rate Decision

Saturday, June 11, 2016

NDX breaks out of the consolidation pattern today

For the last two weeks the index has been in consolidation mode, moving in a range closing up one day and down next, it must have frustrated the traders who were either long or short not letting either side be a winner. But it is the pattern that most markets follow a sharp move up or down, followed by a period of consolidation before the next move up or down. Today we saw exactly that move down after finding support at that level several times but once it broke it fiercely moved down, now we might see a move towards the 50 DMA at 4420.

Friday, June 3, 2016

Tuesday, May 31, 2016

Tomorrow - ISM Manufacturing PMI (May)

The Institute for Supply Management (ISM) Manufacturing Index shows business conditions in the US manufacturing sector It is a significant indicator of the overall economic condition in US. A result above 50 is seen as positive (or bullish) for the USD, whereas a result below 50 is seen as negative (or bearish).

Tuesday, May 24, 2016

NDX breaks out of it's descending channel

It looks like a clear breakout to the upside and if there is follow through we could be ending the consolidation zone and moving into a new trend. Today's move was also happened to take us above the 50 DMA which is a bullish sign. SPY also move above its 50 DMA we will see what happens during this week as there is nervousness about the Fed's decision, as anticipated, next month to increase its key interest rate by 0.25%.

Thursday, May 19, 2016

NDX found support today

As NDX found support near the month's (May) lows today. If the market bounce back from here we could be back in the channel and stay there for a while, maybe for the rest of the summer. Yesterday, with Fed's minutes coming out, the market did not move significantly as everyone was expecting. So analysts believe that the Fed has already started tightening the rates in the shadows 'using shadow' rates since 2014, therefore its not in a hurry to do anything now.

Monday, May 16, 2016

NDX consolidating below its 50 DMA

Today was an up day for most of the indexes, but looking closely at NDX it is still under the 50 DMA inside its consolidation channel, will be interesting to see if it breaks that channel this week and start a new trend up/down.