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
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
Oil - US Crude
Bearish
Wall Street
Bullish
Gold
Bullish
GBP/USD
Mixed
USD/JPY
Bullish
More View more
Real Time News
  • Commodities Update: As of 10:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 1.18% Silver: 0.00% Gold: 0.00% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/lgnQTs4F8U
  • Forex Update: As of 10:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.18% 🇨🇦CAD: 0.17% 🇪🇺EUR: 0.15% 🇯🇵JPY: 0.06% 🇦🇺AUD: 0.06% 🇳🇿NZD: -0.10% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/Tu1NZZUBBo
  • The $USD suddenly seems scarce amid the #coronavirus outbreak. That threatens short-term financing underpinning global supply chains, despite the Fed’s epic efforts. Get your US Dollar market update from @DavidCottleFX here:https://t.co/D2p2Vl2ORK https://t.co/56Iq8CmJ7Z
  • Indices Update: As of 10:00, these are your best and worst performers based on the London trading schedule: Germany 30: 1.33% France 40: 1.21% Wall Street: 0.29% US 500: 0.26% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/zusHPHZgFm
  • Ripple IG Client Sentiment: Our data shows traders are now at their least net-long Ripple since Mar 29 when Ripple traded near 0.16. A contrarian view of crowd sentiment points to Ripple strength. https://www.dailyfx.com/sentiment https://t.co/TnhXuofL8C
  • #Bitcoin prices may see a pickup in volatility ahead of the 2020 halving as the #coronavirus pandemic threatens to disrupt cross-continental $BTC mining operations. Get your market update from @ZabelinDimitri here: https://t.co/BoH24MVf4P https://t.co/c7YqD7VXqc
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 94.72%, while traders in Wall Street are at opposite extremes with 78.06%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/OukR4dIlJc
  • Commodities Update: As of 07:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 1.18% Silver: 0.00% Gold: 0.00% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/xivz7ptPMn
  • Hey, traders 👋 do you want live AMAS with our analysts, market updates and tools to improve your trading strategy? Join us now on Instagram! 👉 https://t.co/pHGzVMqsC4 https://t.co/EBCYaTLWGi
  • Forex Update: As of 07:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.25% 🇳🇿NZD: 0.18% 🇪🇺EUR: 0.18% 🇨🇭CHF: 0.12% 🇯🇵JPY: 0.11% 🇬🇧GBP: 0.05% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/aM45N7u2eL
Dow Jones, S&P 500, Nasdaq 100 Crash, US Recession Ahead?

Dow Jones, S&P 500, Nasdaq 100 Crash, US Recession Ahead?

2020-03-09 12:30:00
Justin McQueen, Analyst
Share:

Dow Jones, S&P 500, Nasdaq 100 Price Analysis & News

  • Oil Price War May Tip US into a Technical Recession
  • Coronavirus Spread in the US on the Horizon
  • Global Equities Tumble

If the spread of the coronavirus crippling global demand enough to topple for equity markets, they now have to contend with an all out oil price war. In reaction to the weekend events, global equities gapped significantly lower at the open with E-Mini S&P 500 futures hitting limit down. As it stands, US indices are trading with heavy losses (Dow Jones -5%, Nasdaq 100 -5.1%, S&P 500 -5.1%) much like their global counterparts. The worst hit being the FTSE MIB (-9%) as the spread of the coronavirus forces 16mln citizens into quarantine. The move lower across equity markets has also coincided with the distressed signals sent by the bond market as US yields drop below 1% across the entire curve. In turn, money markets are pricing in a 59% chance that the Federal Reserve will cut interest rates to 0% (0-0.25% target range) with risks significantly rising that the US could dip into a technical recession. (Credit stress in high yield debt likely to signal large concerns for shale producers).

Federal Reserve to Cut Interest Rates to Zero

Dow Jones, S&P 500, Nasdaq 100 Crash, US Recession Ahead?

How to Invest During a Recession: Investments & Strategy

Circuit-breakersS&P 500 guidelines:

  • 7% Decline, (208 points), trading will pause for 15 min
  • 13% Decline, (386 pts) trading will again pause for 15 mins
  • 20% Decline, (594 pts) the markets would close for the day.
Equities Forecast
Equities Forecast
Recommended by Justin McQueen
Download our fresh Q1Equities Forecast
Get My Guide

S&P 500 | Little Support Ahead

Little in the way of notable support for the S&P 500 after crashing through the 50% Fibonacci retracement situated at 2856. Risks remain heavily tilted to the downside with the doors open towards a possible drop to 2728 (61.8% Fibonacci retracement).

US 500 BULLISH
Data provided by
of clients are net long. of clients are net short.
Change in Longs Shorts OI
Daily -24% 3% -5%
Weekly -25% 7% -2%
What does it mean for price action?
Get My Guide

S&P 500 Price Chart: Daily Time Frame

Dow Jones, S&P 500, Nasdaq 100 Crash, US Recession Ahead?

Dow Jones | Shallow Bounce, Outlook Bearish

Declines in the Dow Jones have been briefly halted with support situated at 24554, however, any bounces are likely to be short-lived and shallow in the absence of notable positive news. Coronavirus cases in the US remain relatively low given the lack of testing and thus the situation is likely to get worse before it gets better. A firm break of current support leaves the index vulnerable to a deeper retracement towards 24000.

Wall Street BULLISH
Data provided by
of clients are net long. of clients are net short.
Change in Longs Shorts OI
Daily -32% -2% -10%
Weekly -40% 9% -8%
What does it mean for price action?
Get My Guide

Dow Jones Price Chart: Daily Time Frame

Dow Jones, S&P 500, Nasdaq 100 Crash, US Recession Ahead?

Source: IG Charts

Nasdaq 100 | Sub 8000 Pending?

The Nasdaq 100 gapped below its 200DMA and much like the Dow Jones and S&P 500, the index remains weak. The index appears on course for a break below the 8000 level as uncertainty remains rife. Notable support is situated at 7768, which marks the 50% fib, however, failure to hold raises the likelihood of a 7500 test.

Nasdaq 100 Price Chart: Daily Time Frame

Dow Jones, S&P 500, Nasdaq 100 Crash, US Recession Ahead?

IG Charts

--- Written by Justin McQueen, Market Analyst

Follow Justin on Twitter @JMcQueenFX

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

DISCLOSURES

News & Analysis at your fingertips.