Submitted by BBFX Blogger on Wed, 01/04/2012 - 07:36
The SPX 500 sits about 3 points lower than Tuesday’s close on the S&P 500 (as of 8:00am EST). With no major economic releases this morning, markets could remain choppy as we await Unemployment claims on Thursday and NFP’s on Friday.
The USD remains supported above the 0.618 Fib. Retracement near the 9,912 area. If we see a selloff in equities be sure to watch the commodity based pairs such as the AUD/USD and NZD/USD which could take a move downward.
Submitted by BBFX Blogger on Tue, 01/03/2012 - 08:09
The 1.30 area was the major support level, which was finally broken back on 12-20-11. The EUR/AUD has continued to decline as the Euro zone debt crisis continues. If you’re looking for a long-term carry trade this pair could play out well due to the attractive rolls. In 2011 when the FED announced QE2 the AUD/USD (long) would have played out to be a great carry position. If the Euro continues to decline be sure to watch this pair because European news can change market sentiment quickly.
Submitted by BBFX Blogger on Tue, 01/03/2012 - 07:07
-The SPX 500 sits about 20 point’s higher (screenshot as of 7:50am EST) from last Friday’s close on the S&P 500. Support remains at the 1,255 area (0.618 Fibonacci retracement) as well at the 200 day moving average at 1,257 area. Resistance will come in at the 1,294 area (0.764 Fibonacci retracement level). We should see increased volume as we approach the US open.
Submitted by BBFX Blogger on Fri, 12/30/2011 - 09:31
The SPX 500 sits nearly flat (as of 9:45am EST) from Thursdays close on the S&P 500. The S&P 500 short term bull trend sits above the 0.618 Fib retracement and just above the 200 day moving average, but with light volume any direction is possible.
With no bad news out of Europe temporarily, the EUR/USD is attempting to rally up to the 1.3045 area. If looking to sell the Euro, check out the EUR/AUD as the rolls are more attractive.
Submitted by BBFX Blogger on Thu, 12/29/2011 - 08:05
The SPX 500 sits about 5 points higher (as of 8:40am EST) than Wednesdays close on the S&P 500. The Italian bond auction did not have a strong demand. Meanwhile we have the EUR/USD breaking through 1.29 area and the AUD/USD hovering above 1.0050 area. If the SPX 500 can break though the 0.764 fib retracement at 1,255, the next resistance will come in at the 200 day moving average at 1,258 area. Support could come in at the 20 day MVA if sentiment turns bearish.Volume should be light as we approach the final trading days of 2011 so be sure to use proper risk management.
Submitted by BBFX Blogger on Wed, 12/28/2011 - 07:53
The SPX 500 sits about 3 points higher than yesterday’s close on the S&P 500 (as of 8:30am EST). Volume has continued to decline as we approach the end of 2011. We have no major economic releases today and if you’re not in any positions it may be best to remain on the sidelines. The close on the S&P 500 for the first trading day of 2011 was 1,271.87 and price action should be interesting as markets try to end the year on a positive figure.
Submitted by BBFX Blogger on Tue, 12/27/2011 - 07:36
The SPX 500 sits about two points lower (as of 8:00am EST) from Friday’s close on the S&P 500. The last trading week of 2011 could bring some volatility with the Italian bond auction on Thursday. Today we have the Consumer Confidence release at 10:00am EST.
Submitted by BBFX Blogger on Thu, 12/22/2011 - 07:32
The SPX 500 sits about 5 points higher (as of 8:15am EST) than Wednesday’s close on the S&P 500. The 0.618 Fib will come in as a resistance point at 1,255 and we also have the 200 day moving average at 1,258 as another resistance point. Volume has continued to decrease as we approach the holiday weekend and the VIX is trying to break below the 20 area. If you are still trading in these conditions take extreme caution with the light volume as we could see whipsaw price action.
Submitted by BBFX Blogger on Wed, 12/21/2011 - 07:23
The SPX 500 sits about flat from Tuesday’s close on the S&P 500. The ECB had announced its lending to banks earlier this morning, which caused a spike in the SPX 500 and it has failed to break above the 0.618 Fib at 1,255 area. At 10:00am EST we have the release of existing home sales, which could fuel additional declines if sentiment remains bearish with below forecasted results. Take extreme caution trading as we approach the end of the week.
Submitted by BBFX Blogger on Tue, 12/20/2011 - 07:01
The SPX 500 is up about 10 points from Mondays close on the S&P 500. The Spanish bond auction has led to an uptrend prior to the US open. I would remain extremely cautious with this rally as volume dissipates as we approach Christmas. If you take a look at the VIX, you will see that the 25 area plays a support for fear in the market. On August 4th we had a 60 point decline and on October 31st we had a 31 point decline when the VIX tried to break through the 25 support area.The 1,220 area will play as a resistance point and could be a sign of sentiment confirmation.