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
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
  • Indices Update: As of 08:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 1.45% France 40: 1.26% Germany 30: 1.20% US 500: 1.15% Wall Street: 0.97% View the performance of all markets via
  • Heads Up:🇪🇸 Markit Manufacturing PMI (FEB) due at 08:15 GMT (15min) Expected: 52 Previous: 49.3
  • Euro Price Forecast: EUR/USD, EUR/JPY Eyeing ECB Weekly Bond Purchases - $EUR $EURUSD $EURJPY
  • 🇨🇭 Retail Sales YoY (JAN) Actual: -0.5% Previous: 5.4%
  • Heads Up:🇨🇭 Retail Sales YoY (JAN) due at 07:30 GMT (15min) Previous: 4.7%
  • Slippage can be a common occurrence in forex trading but is often misunderstood. Understanding how forex slippage occurs can enable a trader to minimize negative slippage, while potentially maximizing positive slippage. Learn about FX slippage here:
  • 🇷🇺 Markit Manufacturing PMI (FEB) Actual: 51.5 Previous: 50.9
  • Heads Up:🇷🇺 Markit Manufacturing PMI (FEB) due at 06:00 GMT (15min) Previous: 50.9
  • Greed is a natural human emotion that affects individuals to varying degrees. Unfortunately, when viewed in the context of trading, greed has proven to be a hindrance more often than it has assisted traders. Learn how to control greed in trading here:
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 93.74%, while traders in GBP/JPY are at opposite extremes with 64.08%. See the summary chart below and full details and charts on DailyFX:
S&P 500: ‘Blow-off’ Phase in Progress

S&P 500: ‘Blow-off’ Phase in Progress

Paul Robinson, Strategist

What’s inside:

  • U.S. markets in ‘blow-off’ stage
  • No interest in getting blown away short, but buying here looks risky
  • Levels under consideration

Looking for trading ideas? See our Trading Guides.

To start the week, the S&P 500 was testing the bottom-side of a trend-line running back to the Feb lows from last year; that line in a hurry become ‘right here’ to ‘down there’. The recent advance after a painful chop through much of December and January is looking a lot like a ‘blow-off’ top in progress. We’re not quite in a parabolic state, but it wouldn’t take much more of a rally to put it there. With that said, it’s hard to say when we will see a meaningful, trade-able top, but it’s possibly on its way to a theatre near you soon. The time-frame of a ‘blow-off’ isn’t isolated to one; there are short-term exhaustions, then macro. For now, we are mostly concerning ourselves with the short-term.

Being a ‘Tommy Top Picker’ isn’t fun and often times expensive, so we’ll wait for momentum to turn on the longs before digging in from the short-side. Buying at this juncture holds poor risk/reward, unless you are buying intra-day dips – which have been fruitful with their very shallow occurrences.

Looking upward, where could the market stall? Perhaps the under-side of the November trend-line around the 2060ish mark and climbing. But, again, these market melt-ups can be vicious, and until we see good price action indicating this move has run its full course we have no interest in being a hero here. On any decline from here we will look to the Feb ’16 trend-line as the first area of potential support, currently around 2328 and climbing.

S&P 500: Daily

S&P 500: ‘Blow-off’ Phase in Progress

Created with TradingView

See the Webinar Calendar for a schedule of upcoming live events with DailyFX analysts.

---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.