From a technical analysis perspective, GBPAUD is forming a short-term reversal pattern and this scenario will be reinforced by a break below support zone from 1.68, then exposing to the next zone, which is also the target for our strategy, at 1.64.
The MACD indicator is sending a bearish signal and we could also notice the candlestick formation - bearish evening star.
Dowt Transportation Avg is close to the target of the Head&Shoulders pattern formed on weekly chart, which is the next support also 6250/6300.
I am following the DowTheory which says that the two DJ must confirm in order to have a healthy move. From my point of view Dowt Transportation Avg is leading in this case (as it did in August 2015). I am not saying that...
S&P100 Index is the basket that contains Huge and Large Caps - almost 50% of the US Equity Market.
At first view the area between 816 and 840 is extremely important for this Index. An invalidation of this support will be critical for the S&P100 and also for the entire US Equity Market.
You should keep an eye on this one too.
I analysed the S&P500 ETF, because this is more important than S&P500 futures or spot. The big players are owning the ETF, not the futures contracts.
I think that the most important support for the S&P500 ETF (SPY) is define by this area between 180 and 182. If the prices will break this key support, then many stop-losses could hit the market and put more...
