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
EUR/USD
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
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
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
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
GBP/USD
Bullish
USD/JPY
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
More View more
Real Time News
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Silver: 0.56% Gold: -0.04% Oil - US Crude: -0.76% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/esKy1uY3rQ
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.06%, while traders in US 500 are at opposite extremes with 71.69%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/HVIXApa0wb
  • The continuity seen across these volatility cycles is a good thing. Historical precedence offer a blueprint for identifying conditions supportive for a vol-event to occur, and how they may unfold. Deepen your knowledge of historical volatility here:https://t.co/vg7w10la3j https://t.co/Mit4oKK16l
  • Indices Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Germany 30: 0.63% France 40: 0.62% FTSE 100: 0.55% US 500: 0.00% Wall Street: -0.00% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/bW5YIX8sRH
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Silver: 0.56% Gold: -0.04% Oil - US Crude: -0.76% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/dDwLgcqJsI
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.06%, while traders in US 500 are at opposite extremes with 71.48%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/O6NcsvAJNS
  • The #Euro may be coiling up for a breakout against the US Dollar as the third quarter of 2020 gets underway. What will drive price action? See our trading guide from @IlyaSpivak to find out here: https://t.co/irBdf8mE7H https://t.co/h5bJePYxGg
  • Indices Update: As of 18:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.47% France 40: 0.44% Germany 30: 0.38% US 500: -0.16% Wall Street: -0.27% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/4oDLGEMu1T
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.06%, while traders in US 500 are at opposite extremes with 71.21%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/m74wuZZKeH
  • Commodities Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Silver: 0.42% Gold: -0.03% Oil - US Crude: -0.83% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/4cYiwWIL4E
S&P 500: Election Volatility and Short-term Trading Levels

S&P 500: Election Volatility and Short-term Trading Levels

2016-10-31 11:34:00
Paul Robinson, Strategist
Share:

What’s inside:

  • Be on the watch for more sudden moves like Friday’s now that election uncertainty has heightened
  • Lines and levels of influence identified in choppy trading environment
  • Continuing to look for fades off levels once momentum turns

Friday morning brought a decent amount of volatility to start the day, especially in the Nasdaq 100 after two of the index’s giants – Google & Amazon – reported quarterly earnings the evening before. As we headed into the afternoon it looked as though volatility might fizzle out to end the week; that is until news hit the wires that the Hillary Clinton email investigation was all but dead, thus stirring up significant uncertainty regarding the Presidential election on November 8.

Until we move past the election, we need to be on our toes as it's likely there will be more headlines to come which could cause sudden, sharp price swings. This means expect the unexpected more-so than usual and be sure to have an even tighter grip on risk.

It also means, especially given the already choppy trading environment, to expect more choppy, two-way trade, but with some bigger swings possibly thrown in. This type of market is best approached from the standpoint of a ‘fade-trader’, looking for times when momentum stalls at support or resistance and then taking the other side.

Levels and lines that matter: Friday’s move pushed the S&P 500 below the 2130 area we had penciled in as support. The short-term channel structure off the 10/24 high is keeping price pointed lower. For resistance, we will look to 2130ish and then the top-side of the 10/24 channel, broken trend-line off the 10/13 low, and broken lower parallel off the 10/17 swing low. All three lines are in the 2135/38 vicinity. Beyond there the trend-line off the 10/10 pivot and the 2146/48 zone.

On the downside, the Friday low at 2119 and lower parallel, to a lesser degree, first show up. Below 2119, the important 2115 swing low created on 10/13 will become a factor. Beyond that important low things become interesting with room to run...

Pre-market futures are near unchanged at this time, but should the market open up or below notations then those levels/lines could flip-flop their signficance (i.e. - old support becomes new resistance, vice versa.)

S&P 500: 60-min

S&P 500: Election Volatility and Short-term Trading Levels

Created with Tradingview

Check out our Q4 Forecasts and Trading Guides.

---Written by Paul Robinson, Market Analyst

To receive Paul’s analysis directly via email, please sign up here.

You can follow Paul on Twitter at @PaulRobinonFX.

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

DISCLOSURES

News & Analysis at your fingertips.