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Trading Video: Doubt for S&P 500 Record Highs, Trades for EURUSD and GBPUSD

Trading Video: Doubt for S&P 500 Record Highs, Trades for EURUSD and GBPUSD

2014-05-24 01:24:00
John Kicklighter, Chief Strategist

Talking Points:

• The 'risk on' sentiment embodied by the S&P 500 both ballooned and drew deeper skepticism this past week

• Participation and activity levels further collapsed before the a long US and UK holiday weekend

• Without changes in risk or yield themes, setups for pairs like EURUSD, GBPUSD and AUDUSD are more suitable

Looking to better understand range trading? Watch this Education video on the strategy.

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A record high close for the torchbearer of investor sentiment - the S&P 500 - this past week comes the immediate caveat that conviction is virtually nonexistent. On the one hand, we have a persistent and mature trend. On the other, there is the constant derision of doubt that prevents the move from gaining momentum. The risk-positive trades in equities, Yen crosses, and carry trades are thereby ironically bridled until risk aversion can deflate some of the excess and provide bargains. Before we return to fundamentally-undervalued investing or the speculative trading of a rapid risk reversal, we can source our trade opportunities for current conditions. We look at the overview of the market and its different setups in the weekend Trading Video.

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