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.

0

Notifications

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

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Bullish
Oil - US Crude
Bearish
Wall Street
Bullish
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
Gold
Bearish
GBP/USD
Bullish
USD/JPY
Mixed
More View more
Real Time News
  • Commodities Update: As of 19:00, these are your best and worst performers based on the London trading schedule: Silver: 0.31% Oil - US Crude: -0.08% Gold: -0.32% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/DpPoyNP5hl
  • After a strong breakout this summer, Gold prices have now spent almost six months digesting. Get your $XAUUSD market update from @JStanleyFX here:https://t.co/H7k5kv4N5i https://t.co/shvReKpe1U
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 100.00%, while traders in Germany 30 are at opposite extremes with 70.32%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/ivQLPokYOs
  • The US Dollar is now trading lower again. After hitting an intraday low around 90.15, the $DXY rebounded to 90.25 but has turned toward again, falling back below 90.20. $USD https://t.co/xyglMBmakL
  • Indices Update: As of 19:00, these are your best and worst performers based on the London trading schedule: France 40: 0.14% Wall Street: 0.06% US 500: 0.03% Germany 30: 0.02% FTSE 100: -0.00% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/SbFlX1iTdj
  • #Gold is consolidating slightly higher this week, around $1,850, after the precious metal's failed attempt at breaking above the $1,870 level last week. $XAU $GLD https://t.co/MyeWiBSQZR
  • US 10yr yields have notably tightened, falling from 1.10% yesterday to trade around 1.04% today. Yields still remain elevated in 2021 compared to earlier in the pandemic. $GOVT $IEF $USD https://t.co/uT27KDUkhM
  • Hey traders! Get your Tuesday market update from @DailyFX Chief Strategist @JohnKicklighter 👇 https://t.co/WPk9aapKhs
  • $EURGBP is currently trading around 0.8855, nearing the lows set around 0.8840 last week. A break below this level would mark the pair's lowest level since May. $EUR $GBP https://t.co/QinuctvrVK
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 100.00%, while traders in Germany 30 are at opposite extremes with 70.50%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/B4i5VeBnUE
Nasdaq 100 Forecast: What Can Traders Expect in December?

Nasdaq 100 Forecast: What Can Traders Expect in December?

Peter Hanks, Analyst

Nasdaq 100 Price Outlook:

Advertisement

Nasdaq 100 Forecast: What Can Traders Expect in December?

The Nasdaq 100 closed November more than 11% higher for the month after surging in the aftermath of the US Presidential election and on the discovery of a potential coronavirus vaccine. The two themes took turns dominating headlines throughout November, while hopes of returning to a pre-covid world sparked some sector-specific rotations. The rotation away from hot work-from-home stocks into more traditional businesses helped the Dow Jones and Russell 2000 outpace the Nasdaq 100 for the month – an infrequent occurrence to be sure.

Nasdaq 100 Price Chart: 4 - Hour Time Frame (August 2020 – November 2020)

Nasdaq 100 price chart

Nevertheless, the Nasdaq 100 remains well positioned as markets enter the twilight of 2020. Stimulus hopes and potential deadlock in Washington that would make the most progressive policies of Biden’s agenda difficult to pass have taken up the torch for bulls and the Federal Reserve looks to remain steadfast in their accommodative stance.

S&P 500 Seasonality

S&P 500 price chart and vix

Source: Bloomberg, John Kicklighter

Together, it can be argued possible tailwinds are present in the equity market headed into December and 2021, but the white-hot rally of November may give rise to more pensive price action before a continuation higher can unfold.Further still, the resolution of the US election has seen volatility deflate – exacerbated by the seasonal drawdown in volatility generally seen in November and December.

Stock Market Holiday Calendar 2020/21: Global Shares Market

Thus, further gains might lack the breakneck speed that was displayed last month and there are potential headwinds on the horizon.That being said, temporary consolidation might prove healthy in the longer-term as past price action is tested and gaps are shored up.

US 500 MIXED
Data provided by
of clients are net long. of clients are net short.
Change in Longs Shorts OI
Daily 16% 2% 7%
Weekly -11% 13% 3%
What does it mean for price action?
Get My Guide

Regardless of direction, it seems seasonality might contribute to a pullback in volatility that might see price move more cautiously in December compared to what was observed in September, October and November. In the meantime, follow @PeterHanksFXon Twitter for updates and analysis.

--Written by Peter Hanks, Strategist for DailyFX.com

Contact and follow Peter on Twitter @PeterHanksFXt

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

DISCLOSURES