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.



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
Wall Street
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
  • The Dollar is poised with an inverse head-and-shoulders pattern, but it needs a catalyst to make something of the setup. $EURUSD has a wedge and may need to weight for #NFPs but $GBPUSD has the smallest 50-day range since July 2014 and the #BOE later today
  • (Market Alert) AUD/USD Sinks as China Suspends Economic Talks with Australia, Will Support Break? $AUDUSD #China #NDRC #Australia #AUD
  • Wall Street Futures Update: Dow Jones (-0.015%) S&P 500 (-0.096%) Nasdaq 100 (-0.191%) [delayed] -BBG
  • The US Dollar may continue trading lower against ASEAN currencies, with USD/SGD and USD/THB eyeing key support ahead. USD/IDR and USD/PHP also exhibit bearish postures. Get your market update from @ddubrovskyFX here:
  • Do you think Dow Jones will outperform Nasdaq in May?
  • RT @KyleR_IG: First gaslighting, and now the silent treatment. This isn't a healthy relationship.
  • NDRC halts activities under China-Australia economic dialogue [update via Bloomberg] - cites Australia's disruption of cooperations with China $AUDUSD slipping lower, falling to lows of the day, China is AU's largest trading partner, feeling disruption woes #AUD #NDRC
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Gold: 0.00% Oil - US Crude: -0.13% Silver: -0.37% View the performance of all markets via
  • The US Dollar still remains under pressure against most ASEAN currencies heading into May. A busy week awaits the Indonesian Rupiah, Thai Baht, Philippine Peso and Singapore Dollar. Get your market update from @ddubrovskyFX here:
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.13% 🇦🇺AUD: 0.05% 🇪🇺EUR: 0.03% 🇬🇧GBP: 0.01% 🇨🇭CHF: -0.05% 🇯🇵JPY: -0.13% View the performance of all markets via
S&P 500 Teeters- Key Levels to Know

S&P 500 Teeters- Key Levels to Know

Michael Boutros, Strategist

Talking Points

  • S&P 500 breaks below monthly opening range- at risk for further losses sub-2365
  • Updated targets & invalidation levels
  • Looking for more trade ideas? Review DailyFX’s 2017 Trading Guides. Join Michael for Live Weekly Trading Webinars on Mondays at 13:30GMT (8:30ET)

S&P 500 Daily

S&P 500 Daily Chart

Technical Outlook:The S&P 500 broke a near-term consolidation pattern this week with the decline taking out the monthly opening range lows & the monthly open. The index is responding to initial confluence support today and while we could see some more upside near-term, the risk remains lower while below resistance at 2365. Keep in mind an objective measured move of the triangle break targets critical support at 2307/15 – Know these two levels heading into next week with a break of this range likely to fuel the next Big move in equity markets.

S&P 500 240min

S&P 500 240min Chart

Notes: A closer look at price action highlights a near-term descending pitchfork formation extending off the highs. Interim resistance stands at 2357/59 where the 50-line converges on the 100% extension of the recent advance & the 3/14 swing low with our broader bearish invalidation set to the upper parallel / monthly open at 2365. A breach / close above this level would be needed to shift the focus back to the long-side with such scenario targeting basic trendline resistance, currently ~2384.

That said, a break below interim support at 2332 targets 2315 & 2303/07- both areas of interest for possible exhaustion / long-entries. From a trading stand point, I’ll be looking to fade strength / short-triggers into structural resistance with a break sub-2332 needed to mark a more meaningful correction. Keep in mind trying to call / time turns in markets is never easy- but being able to recognize when the conditions are right can offer plenty of near-term opportunities.

S&P 500 Teeters- Key Levels to Know
  • A summary of the DailyFX Speculative Sentiment Index (SSI) shows traders are net-short NZDUSD- the ratio stands at -2.73 (26.8% of traders are long)- bullish reading
  • Long positions are 13.9% lower than yesterday but 21.5% higher from last week
  • Short positions are 7.2% higher than yesterday but 4.6% lower from last week
  • While SSI continues to broadly point higher, it’s worth noting that the recent pullback in in the ratio from has largely been attributed to liquidation of long positions (as opposed to a build in shorts) and leaves the immediate risk for a pop higher before making a final low.


Relevant Data Releases

S&P 500 Teeters- Key Levels to Know

Other Setups in Play:

- Written by Michael Boutros, Currency Strategist with DailyFX

Follow Michael on Twitter @MBForex contact him at or Click Here to be added to his email distribution list.

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