[Video] DAX to Top Out? Silver Shaken, Copper Probes 10yr High
Matt Simpson April 30, 2021 3:17 AM
The Dax is clinging onto support after falling from its highs. And that leaves a clear line in the sand today for bulls and bears to engage battle over today.
We also catch up on copper, which sits proudly at multi-year highs yet beneath a key resistance level. And silver, which had a bit of a wobble yesterday, is down (but not quite out) after defending key support levels. In both cases, the US dollar plays a pivotal roll for these metals. So keep an eye on DXY (US dollar index) around its lows, as a rebound higher increases the odds they could both correct. But if or when he dollar’s bearish trend resumes, it could be game on for a bullish breakout on copper and silver.
S&P 500: Market Internals
S&P 500: 4211.47 (0.68%), 29 April 2021
- Communication Services (2.75%) was the strongest sector and Heath Care (-0.387%) was the weakest
- 7 out of the 11 sectors outperformed the S&P 500
- 2 out of the 11 sectors traded lower on the S&P 500
- 393 (77.82%) stocks advanced and 111 (21.98%) declined
- 94.06% of stocks closed above their 200-day average
- 92.87% of stocks closed above their 50-day average
- 77.03% of stocks closed above their 20-day average
- + 8.2% - DISH Network Corp (DISH.OQ)
- + 7.65% - Facebook Inc (FB.OQ)
- + 7.25% - Molson Coors Beverage Co (TAP.N)
- -10.3% - eBay Inc (EBAY.OQ)
- -10.1% - PTC Inc (PTC.OQ)
- -9.45% - Ford Motor Co (F.N)
- -9.13% - ServiceNow Inc (NOW.N)
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