Trade Nation

TradeNation Broker

Last night the Federal Reserve surprised no one when it announced a 25 basis point rate cut, taking the Fed Funds band down to 4.25-4.50%, back to levels last seen two years ago. But that wasn’t the main story. The big news came with the release of the FOMC’s quarterly Summary of Economic Projections (SEP). This showed that the majority of FOMC members now expect...

TradeNation Broker

US stock indices finished lower on Tuesday with the broad-based, domestically-focused Russell 2000 leading the decline. The Russell represents US mid-to-smaller-cap stocks, and closed down 1.2%. It has now lost over 5% since making a fresh all-time high three weeks ago, after rallying 11% in the aftermath of Trump’s election victory in early November. The Dow has...

TradeNation Broker

Gold continues to struggle to regain its upside momentum. It was flat yesterday, and has drifted lower this morning. It is now trading back in a band of support/resistance around $2,630-$2,640. It doesn’t feel as if the selling pressure is over. While it could be exhausted if prices can maintain current levels, a retest of $2,600 cannot be ruled out. And a break...

TradeNation Broker

US stock index futures began the week on the front foot this morning. All four majors were trading in positive territory, shrugging off a mixed close on Friday night, and a generally disappointing week. Only the tech-heavy NASDAQ registered a gain last week, and this was just a modest 0.3%. The S&P 500 lost 0.6%, while the Dow and Russell 2000 lost 1.8% and 2.7%...

TradeNation Broker

Early yesterday, gold pushed back above $2,700 but ran into selling which drove it back down again. But buyers turned up just after the US open and soon gold was trading comfortably above $2,700 and testing prior resistance around $2,720. This was where gold topped out three weeks ago, just before the sharp sell-off when it dropped $110, or 4%, in just one day. It...

TradeNation Broker

US stock index futures were little-changed in early trade this morning. This follows a second successive negative close for all the four US majors last night, although these losses were, like Monday’s, relatively modest. Overall, US equities are experiencing a slight loss of upside momentum. This should not be much of a surprise considering the extent of the...