News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
Oil - US Crude
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • RT @BrendanFaganFx: IBEX 35 Analysis: Rally Continues Despite Virus Fears, Focus Shifts to Fed Link:…
  • RT @FxWestwater: Asia AM - Australian Dollar Forecast: $AUDUSD May Rise on Chinese Industrial Profits Link: https:…
  • There are three major forex trading sessions which comprise the 24-hour market: the London session, the US session and the Asian session. Learn about the characteristics of each session here:
  • 🇰🇷 GDP Growth Rate QoQ Adv (Q2) Actual: 0.7% Expected: 0.7% Previous: 1.7%
  • 🇰🇷 GDP Growth Rate YoY Adv (Q2) Actual: 5.9% Expected: 6% Previous: 1.9%
  • 🇰🇷 GDP Growth Rate QoQ Adv (Q2) Actual: 0.7% Expected: 0.7% Previous: 1.7%
  • Heads Up:🇰🇷 GDP Growth Rate QoQ Adv (Q2) due at 23:00 GMT (15min) Expected: 0.7% Previous: 1.7%
  • Heads Up:🇰🇷 GDP Growth Rate YoY Adv (Q2) due at 23:00 GMT (15min) Expected: 6% Previous: 1.9%
  • (Weekly Technical) Australian Dollar Outlook Still Biased Lower: AUD/USD, AUD/JPY, AUD/NZD, AUD/CAD #AUD $AUDUSD $AUDJPY $AUDNZD $AUDCAD
  • Technical analysis of charts aims to identify patterns and market trends by utilizing differing forms of technical chart types and other chart functions. Learn about the top three technical analysis tools here:
Time to Get Long Risk Again?

Time to Get Long Risk Again?

Kristian Kerr, Sr. Currency Strategist

Talking Points

  • SPX rebounds from key technical support level
  • Next few days look critical for the index from a cyclical perspective

Unfamiliar with Gann Square Root Relationships? Learn more about them here.

The next few days look critical for the S&P 500. The index peaked out at the start of the two-week cyclical turn window we highlighted between the end of January and the start of this month. The short-term trend has most definitely turned down with the SPX having come under steady pressure since about January 23rd. With this important turn window coming to a close at the end of the week we are now on the lookout for a potential low and there is some chance that yesterday’s reversal from 1737 may have been it. If the index is indeed recording an important bottom around this time then price should not exceed this week’s low (whatever it may be) next week on a daily close basis. Strength back over 1795 will confirm a reversal. Should the index continue to weaken into next week then it will confirm a more powerful change in trend has occurred over the past few weeks and setup further weakness over the next few months.

S&P 500 Daily Chart: February 6, 2014

Range_FEB_6_body_Picture_2.png, Time to Get Long Risk Again?

Charts Created using Marketscope – Prepared by Kristian Kerr

Key Event Risks in Coming Sessions:

Range_FEB_6_body_Picture_1.png, Time to Get Long Risk Again?


Resistance: 1780 (Fibonacci), 1795 (Fibonacci)

Support: 1749 (Gann), 1737 (Fibonacci)

Strategy: Buy SPX on weakness

Entry: Buy SPX at 1749

Stop: 1-day close below 1737

Target: 1795

--- Written by Kristian Kerr, Senior Currency Strategist for

To receive other reports from this author via e-mail, sign up to Kristian’s e-mail distribution list via this link.

To contact Kristian, e-mail Follow me on Twitter at@KKerrFX.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.