[Video] USD/CHF Coils Ahead of CPI, Nasdaq Warns of Exhaustion

Volatility is likely to remain low ahead of today’s highly anticipated CPI data for the US (Core PCE). So we look at USD/CHF and the Nasdaq 100 ahead of it.

Charts (4)

 

Update on prior analysis:

  • Target (TGT) has broken to fresh highs, in line with its very neat and bullish trend. The trend remains bullish above the 228 but we’d like to see prices hold above the prior 236.80 high.  
  • Abbott Laboratories (ABT) produced a bearish pinbar which closed back below 112.17, so we’ll continue to monitor its potential for a swing high to be confirmed.
  • Morgan Stanley (MS) reached our target around the 84.00 low. Momentum is now turning higher above the Feb trendline so it’s a ‘step aside’ for now.
  • FedEx (FDX) has been removed from the watchlist with a break above 300.


S&P 500: Market Internals


S&P 500: 4266.49 (0.58%), 24 June 2021

  • Financials (1.21%) was the strongest sector and Real Estate (-0.44%) was the weakest
  • 9 out of the 11 S&P 500 sectors closed higher
  • 5 out of the 11 sectors outperformed the S&P 500
  • 263 (52.08%) stocks advanced and 238 (47.13%) declined
  • 88.51% of stocks closed above their 200-day average
  • 46.93% of stocks closed above their 50-day average
  • 35.05% of stocks closed above their 20-day average

Outperformers:

  • + 5.02%   -  L Brands Inc  (LB.N) 
  • + 4.21%   -  ETSY Inc  (ETSY.OQ) 
  • + 3.23%   -  Cintas Corp  (CTAS.OQ) 

Underperformers:

  • -3.53%   -  Iron Mountain Inc  (IRM.N) 
  • -2.87%   -  Evergy Inc  (EVRG.N) 
  • -2.19%   -  Kimco Realty Corp  (KIM.N) 

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