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.

Free Trading Guides
EUR/USD
Bullish
GBP/USD
Mixed
Low
High
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
USD/JPY
Bullish
Gold
Bullish
Oil - US Crude
Mixed
Low
High
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
Bitcoin
Bearish
More View more
Real Time News
  • The spread of #coronavirus promises a global economic hit at a time when the global economy is perhaps especially ill-equipped to deal with one. Growth-correlated assets are vulnerable. Get your market update from @DavidCottleFX here: https://t.co/0If0Jw7c2P https://t.co/mph6z70XeF
  • The $JPY continues to struggle against the US Dollar but there seems little appetite to push USD/JPY much beyond a range which has tended to reassert itself since late last year. Get your market update from @DavidCottleFX here: https://t.co/iaVfPSuXy4 https://t.co/1QPhJmYlQv
  • The #Euro may bounce after hitting the lowest level in close to three years against the US Dollar. While the broader trend points firmly lower, selling pressure may be ebbing. Get your market update from @IlyaSpivak here: https://t.co/697SQ9j5FY https://t.co/6SEvwQyod8
  • GBP/CAD has broken below the September uptrend while EUR/CAD may be ending its consecutive 12 day decline with EUR/CHF approaching key resistance as NZD/CAD aims at November lows. Get your currencies update from @ZabelinDimitri here: https://t.co/GpRB7IKhTA https://t.co/hlHlGdhkHc
  • The $GBP recoiled from chart resistance against the US Dollar, setting the stage for prices to resume a bearish trend reversal triggered mid-January. Get your market update from @IlyaSpivak here:https://t.co/lVpyZkIfJt https://t.co/9oXusxs0Kg
  • The #Euro may have more room to fall versus its major peers such as the US Dollar, Japanese Yen and British Pound. What is the technical picture of EUR/USD, EUR/JPY and EUR/GBP? Get your market update from @ddubrovskyFX here: https://t.co/M6fLA9g3BK https://t.co/HMwQgr1WP5
  • The $USD’s aggressive rise versus ASEAN currencies such as the Singapore Dollar, Indonesian Rupiah, Malaysian Ringgit and Philippine Peso prolonged. What is the technical road ahead? Find out from @ddubrovskyFX here:https://t.co/RsFptNzODf https://t.co/u8meQUSsVG
  • $AUD broke critical range support against its US counterpart, suggesting deeper losses are ahead even after prices hit an 11-year low. Get your market update from @IlyaSpivak here:https://t.co/45YpJRjDYj https://t.co/zWAzaL78Sc
  • After negotiating a series of economic and geopolitical risks in 2019, the S&P 500 rounded out the year more than 30% higher. Will the stock market crash in 2020? Find out from @PeterHanksFX here: https://t.co/8KsjB9YkBB https://t.co/4ph9bdMxz9
  • Italy reports first death from coronavirus - BBG
S&P 500 Price Outlook: Traders on Edge as VIX Pops Ahead of Jackson Hole

S&P 500 Price Outlook: Traders on Edge as VIX Pops Ahead of Jackson Hole

2019-08-22 21:00:00
Peter Hanks, Junior Analyst
Share:

S&P 500 Price Outlook:

S&P 500 Price Outlook: Traders on Edge as VIX Pops

The S&P 500, Dow Jones and Nasdaq 100 were faced with widespread uncertainty on Thursday as traders jostled for position ahead of incoming Fed speak that possesses great market-moving potential. Although the three indices pared major losses and the Dow Jones was dragged higher by Boeing (BA), the VIX Index remained elevated into the close which speaks to the fear amongst investors – which is understandable given the stakes.

S&P 500 Price Chart: 4 - Hour Time Frame (June – August) (Chart 1)

S&P 500 price chart

Chart created withTradingView

As it stands, markets are expecting a 25-basis point cut at the September FOMC meeting – while others have called for a 50-basis point cut at minimum. Some analysts, myself included, argue the prospect of further easing has already been priced in which has allowed the S&P 500 to maintain its robust valuation despite an expanded trade war and inverted yield curve.

Sign up for our Free Weekly Equity Webinar in which critical technical levels and fundamental themes are analyzed each week.

Therefore, if the assumption is correct, anything less than complete capitulation from Fed Chairman Jerome Powell and his peers could seriously disappoint stock traders and result in price declines which could potentially see the Index retest the trendline from June.

VIX Price Chart: 4 – Hour Time Frame (June – August) (Chart 2)

VIX chart

Chart created withTradingView

On the other hand, IG Client Sentiment Data suggests the S&P 500 may be destined for greater heights as traders remain net-short. For more technical analysis and fundamental updates on the major equity markets, follow @PeterHanksFX on Twitter.

S&P 500 Price Outlook: Traders on Edge as VIX Pops Ahead of Jackson Hole

--Written by Peter Hanks, Junior Analyst for DailyFX.com

Contact and follow Peter on Twitter @PeterHanksFX

Read more:Canadian Dollar Price Forecast: USD/CAD Strength May Fade

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

DISCLOSURES

News & Analysis at your fingertips.