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
More View more
Real Time News
  • Forex Update: As of 05:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.49% 🇦🇺AUD: 0.33% 🇬🇧GBP: 0.21% 🇯🇵JPY: 0.13% 🇨🇦CAD: 0.13% 🇨🇭CHF: 0.10% View the performance of all markets via
  • Heads Up:🇳🇱 Consumer Confidence (JAN) due at 05:30 GMT (15min) Previous: -20.0
  • Heads Up:🇳🇱 Unemployment Rate (DEC) due at 05:30 GMT (15min) Previous: 4%
  • Indices Update: As of 05:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.59% France 40: 0.41% US 500: 0.39% Germany 30: 0.39% Wall Street: 0.25% View the performance of all markets via
  • Want to make trading decisions with confidence? Download you free guide to avoid hesitations in your trading decisions. #DailyFXGuides
  • Crude oil prices pulled back slightly after API reported an unexpected 2.56 million-barrel build in US crude inventories for the week ending Jan 15th. Markets anticipated a 1.17-million-barrel drop initially.
  • Use this technical analysis pattern recognition skills test to sharpen your knowledge:
  • Noguchi nominated for BOJ board by Japan's government - BBG
  • $GBPNZD could extend recent losses after surging away from the 100-MA and failing to breach range resistance at 1.9120 - 1.9150 A retest of the monthly low looks on the cards if sellers can drive the exchange rate back below the 21-EMA (1.8956) $GBP $NZD #technicalanalysis
  • The British Pound may continue gaining ground against its haven-associated counterparts in the near term. However, the currency may give up gained ground against the New Zealand Dollar.Get your $GBP market update from @DanielGMoss here:
S&P 500 - Bears Got Trumpled, Short-term Trading Levels Noted

S&P 500 - Bears Got Trumpled, Short-term Trading Levels Noted

Paul Robinson, Strategist

What’s inside:

  • The S&P 500 recovers sharply from lock limit, posting a solid gain for the day, and in the process…
  • The index closed above the trend-line extending down off the August 23 peak
  • 60-minute chart with markings for short-term traders

In yesterday’s piece, we noted levels on the downside which looked likely to be tested based on futures trading in pre-market after Trump took the White House. But by the time the market had opened, not only had the S&P futures recovered from lock-limit down (-100+ handles) in the middle of the night, they were only down a modest 18 or so by the time the 2:30 GMT cash open rolled around.

This kept the market above the 2115/20 zone of support we had our eyes on. The sharp rally during the day session put the SPX above the trend-line running off the 8/23 peak and now into a thicket of resistance between 2170 & 2180. Beyond there lies a small zone, including the record highs, from 2188 & 2194. The Dow is on its way to posting new record highs today.

Minor support comes in at the 10/24 peak at 2155, with more significant support arriving on a retest of the broken 8/23 trend-line. It is unlikely we have to worry about the 2115/20 zone in the very short-term.

S&P 500: Daily

S&P 500 - Bears Got Trumpled, Short-term Trading Levels Noted

Created with Tradingview

Dialing in on the 60-minute chart, we have several levels to watch formed over the past couple of months. Short-term traders can utilize these levels within the framework of their style of trading, whether that be to fade off levels or attack breakouts. The preferred method on this end is to look for signs of reversing momentum once certain levels are hit and then take a trade in the other direction, preferably in the direction of the short-term trend.

Levels - Top-side: 2170, 75, 80, 88, 93. Bottom-side: 2155, 50, 47, 30.


S&P 500 - Bears Got Trumpled, Short-term Trading Levels Noted

Created with Tradingview

Check out Trading Guides and Forecasts designed for traders of all experience levels.

---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.