AUD/USD broke below 0.7790 support, indicating that the downtrend from 0.7988 has resumed. Further decline would likely be seen in the coming days and next target would be at 0.7700 area. Near-term resistance is at 0.7830, only break above this level could bring price back to test 0.7893 key resistance. Above this level could take […]

While the dollar is down around 3% year-to-date, not all dollar-denominated assets are rallying and in fact, silver is now the biggest loser among the precious metals. Palladium’s recent resurgence has pushed it back above silver for the year (though still in the red) as Gold and Platinum remain in the green for the year. […]

Economic Reports Economic Growth & Investment We pay particular attention to broad-based indicators of growth. The Chicago Fed National Activity Index and the Conference Board’s Leading Economic Indicators are examples. We watch them because we are mostly interested in identifying inflection points in the broad economy and aren’t as interested in the details. Why? Because, […]

The following daily chart (and close-up shot) of the S&P 500 Index is criss-crossed by a number of trendlines. There are a couple of near-term price levels where these intersect at their apex (2730 and 2685). Should both of these be breached with force, we’ll likely see another leg down. My last post referencing the SPX:VIX ratio offers further details that would corroborate such a […]

Indian share markets are presently trading on a negative note. Sectoral indices are trading in the red with stocks in the banking sector and metal sector witnessing maximum selling pressure. The BSE Sensex is trading down 154 points (down 0.5%) and the NSE Nifty is trading down 52 points (down 0.5%). The BSE Mid Cap index is trading down by 0.2%, while the BSE Small Cap index is […]