Posted May 18, 16:18
5 hours ago:
Just as market sentiment began improving and the US dollar index showed its first 3-day losing run since March, selling resumes across the board. Yesterday's solid US retail sales gave Powell the confidence to stick to his “inflation-remains priority” rhetoric. Interestingly, DXY, EURUSD and US-10 year all stabilized at their 21-day moving averages. No, this is neither a piece about “bear market rallies”, nor about “Intermarket technical confluences” covered successfully at last Thursday's market low. This in fact is about how the market could resume rallying into next week—despite Wednesday's wobble.
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Traders reap the value of intermarket technical/quantitative analysis in capturing junctures, where various asset classes have reached potential inflection points. Such levels can be support/resistance in terms of TA, or moves in material magnitude, such as 20% or 30% declines/gains, which trigger program driven trading. So during Thursday's market carnage (equity indices and cryptos), I sent the below charts (created on Thursday) to my WhatsApp Broadcast Group, highlighting the vital technical levels in five key markets. It's all about confluence across different asset classes. Here's how. Read More...
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21-yr Intermarket Charts - 7 indices 11 currencies 14 commodities Interactive charting by instrument, chronological and alphabetical order. This enables organizing each individual commodity, currency or equity index' performance by magnitude or chronological order. View..