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
Oil - US Crude
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
More View more
Real Time News
  • #Silver retracing its losses earlier in the session as price carves out a Bear Flag pattern With resistance at $25 holding firm, further losses appear in the offing A daily close below the 21-DMA (24.20) may open the door for a retest of 61.8% Fib support (21.74) $SLVR $SLV
  • The Nasdaq 100 index looks set to pull back amid bearish momentum in the near term. The 50-Day Simple Moving Average (SMA) line may serve as an immediate support. Get your #equities update from @margaretyjy here:
  • $GBPUSD the outlier early in the session, up marginally as UK-EU Brexit negotiators extend talks until October 28
  • #CrudeOil down 1.95% on the back of tightening #COVID19 restrictions in several European nations $EURUSD nudging marginally lower
  • Market Snapshot Broad risk-off tilt to kick-off APAC trade #Gold and #CrudeOil prices plunging lower alongside the risk-sensitive $AUDUSD Haven-linked $JPY and $USD moving higher against their major counterparts
  • Wall Street Futures Update: Dow Jones (-0.504%) S&P 500 (-0.536%) Nasdaq 100 (-0.484%) [delayed] -BBG
  • Entry orders are a valuable tool in forex trading. Traders can strategize to come up with a great trading plan, but if they can’t execute that plan effectively, all their hard work might as well be thrown out. Learn how to place entry orders here:
  • *Reminder: Weekly Strategy Webinar tomorrow morning at 8:30am ET on DailyFX!
  • Central banks often deem it necessary to intervene in the foreign exchange market to protect the value of their national currency. Learn how central bank intervention can impact your trading here:
  • The US Dollar may seesaw as investors navigate what could be a volatile week packed with US GDP data, rising Covid-19 cases, Q3 corporate earnings and more. Get your #currencies update from @ZabelinDimitri here:
S&P 500 & Dow Tech Outlook – Awaiting Consolidation Period to End

S&P 500 & Dow Tech Outlook – Awaiting Consolidation Period to End

2017-05-16 10:38:00
Paul Robinson, Strategist

What’s inside:

  • S&P 500 edging towards trying to put together another run
  • On a dip from here 2380 is key to keeping market buoyed
  • Nasdaq 100 leading the way, the Dow a laggard but in-line with the S&P in terms of technical structure

Find out what is driving the stock market in our market forecasts section.

The S&P 500 has been consolidating since the last week of April, with the period having set a sturdy floor right around 2380; this level has become our ‘line-in-the-sand’ for maintaining a neutral to bullish stance. Overall, the market looks poised to make another run. The question is whether further side-ways price action will unfold first, or if a new leg higher can commence sooner rather than later. A solid daily close above the recent range will be our cue for sooner rather than later. If the market falls back a bit into the range, again, as long as 2380 holds there isn’t a good reason to abandon a constructive bias.

S&P 500: Daily

S&P 500 & Dow Tech Outlook – Awaiting Consolidation Period to End

The Nasdaq 100 has been the leader in the U.S., seemingly going up every day, while the Dow acts as a laggard. As is typically the case, the chart structure of the Dow more closely resembles the S&P, but still sits a couple hundred points below its March 1 record high. The horizontal price action (consolidation) is likely to lead to a solid breakout in line with the S&P should it break free from its own period of consolidation. A strong down day into the 4/25 gap would be reason for concern, but not until then will we move away from the current neutral to bullish stance.

Dow: Daily

S&P 500 & Dow Tech Outlook – Awaiting Consolidation Period to End

Paul conducts webinars every week from Tuesday-Friday. See the Webinar Calendar for details, and the full line-up of all upcoming live events.

---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.