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
  • Knowing how to accurately value a stock enables traders to identify and take advantage of opportunities in the stock market. Find out the difference between a stock's market and intrinsic value, and the importance of the two here:
  • US indices have a packed week ahead with earnings from the major technology names, US GDP data due and an FOMC rate decision. With so much on the docket the potential for volatility is heightened. Get your stock market forecast from @PeterHanksFX here:
  • GDP (Gross Domestic Product) economic data is deemed highly significant in the forex market. GDP figures are used as an indicator by fundamentalists to gauge the overall health and potential growth of a country. Learn use GDP data to your advantage here:
  • The Federal Reserve System (the Fed) was founded in 1913 by the United States Congress. The Fed’s actions and policies have a major impact on currency value, affecting many trades involving the US Dollar. Learn more about the Fed here:
  • The US Dollar Index traded higher last week, sustaining its broader uptrend. Conflicting technical signals urge caution, but the directional bias remains skewed to the upside. Get your weekly USD technical forecast from @FxWestwater here:
  • 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:
  • The Australian Dollar still remains vulnerable as it extends losses against its major counterparts. What is the road ahead for AUD/USD, AUD/JPY, AUD/NZD and AUD/CAD? Get your AUD technical forecast from @ddubrovskyFX here:
  • The ISM manufacturing index plays an important role in forex trading, with ISM data influencing currency prices globally. Learn about the importance of the ISM manufacturing index here:
  • Take a closer look visually at the most influential global importers and exporters here:
  • EUR/USD tumbled last week on the day of the ECB’s latest policy announcement, and that weakness is set to continue this week as a flood of major Eurozone economic statistics is released. Get your weekly Euro forecast from @MartinSEssex here:
S&P 500 All Set for Rebound

S&P 500 All Set for Rebound

Research, Research Team

Main Points:

S&P 500 dropped amid turmoil in emerging markets and fed stimulus reduction

• The stock market may rebound from current level

• EW theory shows that the market is in correction phase

Standard & Poor’s 500 Index (SPX) tumbled 0.4% to 1777.50 last week as emerging markets continued to bleed. Earning reports disappointed investors and the Fed cut stimulus. The S&P 500 extended downside movement for a third consecutive week, the longest losing streak in more than 19 months. The index hit as low as 1761.00 on Friday, the lowest level since December 18.

The US stock market closed on Friday with a hammer-like daily candle, showing that bulls are gaining momentum for a pullback. Support is seen around 1766.00, 100 Daily Moving Average (100 DMA) ahead of 1754.00 which is a swing low of previous downward wave. A break below 1754.00 will turn bias into bearish due to Lower Low (LL).

SP_500_all_set_for_rebound_after_worst_losing_streak_since_2012_body_SPX500BullishChart.png, S&P 500 All Set for Rebound

On the upside, resistance is noted around 1802-07 which is the 50% fib level of recent drop as well as 55 DMA. A break and close above 1802-07 shall target 1823-25 i.e. the 23.6% and 76.4% fib levels of the previous two waves. The level is also last notable resistance ahead of 1845.25, the high of the previous wave.

The Commodity Channel Index (CCI) and the Relative Strength Index (RSI) both are almost neutral, which mean long moves are likely. Slight positive divergence may also be noted with both MACD and CCI. On the other hand, if we apply Elliott Wave Theory into recent moves, it will look like this;

SP_500_all_set_for_rebound_after_worst_losing_streak_since_2012_body_SP500Chart.png, S&P 500 All Set for Rebound

The chart above clearly shows that the first wave of the correction phase has just been completed and now the S&P 500 may take retracement to print a Lower High (LH) as shown in the first chart. Elliott Wave (EW) theory consists of two phases, the impulsive phase and the correction phase. The correction phase is further divided into three waves: A, B and C as shown in the above chart.

The S&P 500 slid down 3.6% in January, which was its first monthly slump since August 2013. Let us have a quick look at the various factors responsible for the recent decline in the US stock market. The first and the most prominent factor was a steep fall in emerging-market currencies, which was triggered after manufacturing and economic slowdowns in China. The world’s second largest economy grew at 7.7% last year, its slowest growth for the second consecutive and the slowest since 1999, a government report stated on 20th January. Similarly, manufacturing also slowed down in China during January, HSBC Holdings said in its downbeat PMI report on 23rd January.

Earlier, on the 29th of January, the US central bank announced another cut in monthly bond purchases. Total value of monthly asset purchase program has now been reduced to $65 billion. A faster than expected reduction in stimulus is being considered by many investors as a signal for tight monetary policy in the near future as the jobless rate slumped to 6.7% in December, very close to the Fed’s 6.5% target. The US economy grew at 3.2% in the fourth quarter despite the government shutdown in October.

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