Technical Analysis

Still lower on the day but well off the lows. The US stocks are recovering and trading near highs for the day.  The snapshot of the major indices shows the S&P index -21.52 points. The NASDAQ index -53.94 points and the Dow down -282.29. Those levels are well off session lows where the Dow was down as much as 457.91
Still hanging above its 100 day MA though The EURUSD moved above its 100 day MA at 1.10707 earlier in the day and stalled with some price action above and below the MA level. However, the price did base near the level and found more buyers that took the price toward teh November highs at
Rough day for crude oil Fears that Russia will block an OPEC+ quota extension have hammered oil prices today. WTI is now down $4.27, or 4.75%, to $55.35. The drop puts crude in-line for the second-lowest close of the month and puts the market on eggshells ahead of the December 5 OPEC meeting in Vienna.
Fresh highs  NZD/USD is at the best levels of the day ahead of trade balance numbers to come at 2145 GMT (4:45 pm ET). The kiwi has been solid since yesterday’s strong Q3 retail sales report. Excluding inflation, sales rose 1.6%, far above the 0.5% expected. Despite the huge beat, the reaction has been tepid
The 61.8% retracement is being approached The EURUSD has moved toward the next downside target at 1.10298 (see earlier post HERE). That is home to the 61.8% of the move up from last week’s lows. Also near the level is the swing high from November 15. That level was broken on that day and the
Little changes in the major indices at the opening The major US stock indices are opening with little changes. The snapshot of the indices currently shows: S&P index +0.8 points or 0.03% at 3108.95 Nasdaq virtually unchanged at 8527 .07 Dow down 12 points or -0.05% at 27808 in the US debt market yields remain higher with the 2 year up
Gold lower. Yields higher.  Stocks at records.  USDJPY and USDCHF at key levels The fear trades are evaporating in the markets today: Spot gold is down $22 now and trading at session lows at $1468.43. The precious metal broke below its 100 day moving average for the 1st time since May 31 (blue line in the chart
Unemployment rate ticked higher  The New Zealand employment statistics were released just before the close of trading yesterday.  The employment rate moved up to 4.2% from 3.9% in the 2nd quarter. The expectations was 4.1%.  The other pieces of the report came in as expected with the  employment change 0.2% QoQ.  The employment change at 0.9% YoY, and  wages including and