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. See our updated Privacy Policy here.



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
More View more
Real Time News
  • $USDCAD held that support at 2426 but dip buyers so far unable to test above 1.2500, next big resistance on my chart
  • Myth or fact? One thing is for sure, there are a lot of misconceptions about trading. Knowing the difference between common trading myths and the reality is essential to long-term success. Find out about these 'myths' here:
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.81%, while traders in France 40 are at opposite extremes with 75.68%. See the summary chart below and full details and charts on DailyFX:
  • LIVE NOW: Join Technical Strategist @MBForex for his Weekly Strategy Webinar to review the setups we're tracking into the weekly / monthly open!
  • $USD set up for this week - $EURUSD looks like it wants to break out. still holding w/in resistance zone 1885-1900, but higher-low support, quick return to zone. attractive for a bearish usd thesis next resistance 1950 and then the big zone from 1965-2000
  • Forex Update: As of 12:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.25% 🇪🇺EUR: 0.15% 🇯🇵JPY: 0.14% 🇨🇦CAD: 0.03% 🇨🇭CHF: -0.01% 🇬🇧GBP: -0.10% View the performance of all markets via
  • Weekly Strategy Webinar starting in 15mins on DailyFX!
  • $USD starting the week with some balance. $DXY support 91.82-91.93 resistance 92.19-92.26
  • Heads Up:🇷🇺 Monetary Policy Report due at 12:00 GMT (15min)
  • Join @MBForex at 8:30 EST/12:30 GMT for your weekly scalping webinar. Register here:
S&P 500 Tech Update: Pullback to Trend-line Welcomed

S&P 500 Tech Update: Pullback to Trend-line Welcomed

Paul Robinson, Strategist

What’s inside:

  • S&P 500 trades to new record highs on Friday, bias stays higher
  • Not seeing any great set-ups, more basing activity welcomed
  • Market lacking volatility, awaiting general catalyst

SeeDailyFX Trading Guides for forecasts and education.

On Friday, the S&P 500 and Nasdaq 100 traded to new record closing highs while the DJIA was only able to do so on an intra-day basis. We’ve been leaning on the bias of seeing higher prices, but only tentatively so with price action not providing anything significant for us to hang our hats on.

A decline to the trend-line off the November low could offer an opportunity to see how the S&P 500 responds to a pullback into support. It would also broaden a base for higher prices as well if it holds. A larger consolidation period would make for a sturdier platform for the market to move higher from. In the absence of a solid set-up to trade off of, for now we will maintain a semi-bullish view (which means no shorts at the least) and patiently wait for a good risk/reward set-up.

It hasn’t been an easy market to get a firm handle on in recent weeks, perhaps that will change in the weeks ahead. The inauguration of President-elect Donald Trump coming up on January 20 may help spark general volatility as he begins his work in the White House. Looking at the market through a technical lens, the catalyst doesn’t matter in our book, just that markets are moving. As far as ‘high’ impact data events this week, nothing until Friday when U.S. Retail Sales (13:30 GMT) and U of M Confidence (15:00) will be released. There are several ‘medium’ impact numbers from now until then, please see the DailyFX Economic Calendar for details.

S&P 500: Daily

S&P 500 Tech Update: Pullback to Trend-line Welcomed

Created with Tradingview

Join Paul on Wednesday for charts and trade set-ups at 10 GMT time. For a schedule of all live events, see the Webinar Calendar.

---Written by Paul Robinson, Market Analyst

You can receive Paul’s analysis directly via email by signing 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.