The Nasdaq 100 and Dow Jones have suffered slight losses in recent sessions, falling from recent highs Relative to broader price trends, however, recent declines are a blip on the radar and equity strength may persist in the longer-term How to Short Sell a Stock When Trading Falling Markets Nasdaq 100 & Dow Jones Seek Support Amid Declines - Stock Forecast
The Nasdaq 100 and Dow Jones have bled lower this week, leaving the two indices in search of technical support. Since little has changed in the fundamental landscape, aside from rising Treasury yields which should be eyed closely , the longer-term equity outlook remains encouraging. With that in mind, nearby support might provide a springboard for an eventual recovery higher. Nasdaq 100 Price Chart: 4 - Hour Time Frame (September 2020 February 2021)
S&P 500 Forecast: SPY ETF Clocks Outflows Alongside Gold, Treasury Funds
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USD /JPY Plays to the Range AUD /JPY | US/China Tensions Resurface USD/JPY Plays to the Range
The grind higher in USD/JPY has once again been curbed by the 200DMA situated at 105.50, which in turn has seen the pair continue to range within its 100 and 200DMA . US fixed income has continued to soften with US 10s hitting 1.25%, which has been among the key drivers behind the recent Yen weakness. Keep in mind, that USD/JPY has largely been a rates play, given that JPY has failed to benefit from a softer USD. Alongside this, with the VIX moving below 20, flows into equities have continued, whereby the Nikkei 225 reached the milestone of reaching 30k for the first time in decades and thus has weighed on the Japanese Yen further. For now, as equities and US yields firm, cross-JPY higher remains the theme, while USD/JPY needs a close above the Feb high at 105.76 to open the doors to 106.00-10.US Rates Point to Higher USD/JPY
Risk appetite remains strong as equities push higher and US corporations begin to wade into the cryptocurrency space, boosting digital assets like Bitcoin and Ethereum.
Gold Uninspiring as Familiar Resistance Caps US Dollar Chops, US Rates Pop, Gold Vulnerable to a Drop Gold Uninspiring as Familiar Resistance Caps
The precious metal had a somewhat uninspiring week, with initial gains faded throughout the back end of the week. Once again, upside in gold has been capped at 1860, this time the 50-200DMA holding firm. The 1840-60 area has been a tough area for gold to break in recent weeks, while an RSI that has remained below 50 also provides little indication that the top of the area will be breached in the near term. On the downside, support is situated at 1809 (Jan 18th low) with 1784 below (Feb low), which protects the November low 1764.Gold Chart: Daily Time Frame
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