Technical Analysis

…but off low levels too The major stock indices are ending the session mixed. While the Nasdaq is closing down on the day, the S&P and Dow is ending the session higher – albeit marginally.  The S&P index closed up 0.96 points or 0.03% at 2888.86. The high reached 2894.65. The low extended to 2879.20
$200B of new tariffs may not go into effect The headline news that Mnuchin would head proposed US/China trade talks, is giving the risk pairs a boost. AUDUSD. The AUDUSD moved above a trend line and 100 hour MA earlier (blue line – see post here).  That was a bit more bullish. The headline sent
….but still up on the day The AUDJPY is up today…but it was only Friday that the pair reached the lowest levels since November 2016. So let’s not get too excited. Drilling to the hourly chart below, the price action on Friday stalled near a lower trend line (see red circles).  That led to sideways
Latest data released by ONS – 10 September 2018 Prior +0.1% Monthly GDP +0.6% vs +0.5% 3m/3m expected Prior +0.4% Index of services +0.3% vs +0.2% m/m expected Prior 0.0% Index of services +0.6% vs +0.5% 3m/3m expected Prior +0.3% ForexLive That’s a decent reading and the 3-months rolling figure is also up to 0.6%
Higher earnings (and all the other stuff) has the stocks worried at the start. Higher average earnings may start to raise company costs. Trade tensions (is the China shoe going to drop? Japan? Nafta?) Tesla/Musk?  Yikes. Yields higher. It has the stocks worried again. The Dow is down -104 points or -0.40% The S&P is