We also take a look at an ominous sign on AUD/USD and catch up on the Nasdaq, to see how that call for 14k is coming along.
Updates to previous videos:
- The DAX is trying to fill its gap between following its second consecutive bearish session. Although bears aren’t exactly attacking this strong bullish trend with vigour. We’ll wait for a new level of support to be established before seeking fresh log opportunities.
- We covered NZD/USD ahead of last week’s NFP report. The break below 0.6943 support did not materialise, although (similar to AUD/USD) a bearish outside candle formed yesterday to suggest a swing high could be in place.
- Copper prices have pulled back a little more than we’d like but, as long as prices remain above the gap around $4.00 then, we’ll continue to seek a potential bullish setup.
- Eli Lilly (LLY) fell to an 8-day low, although recovered slightly later in the session to leave a small bullish hammer in its wake (with a lower close). Still, whilst prices remain beneath the 188 highs the bias remains for a run towards 175 gap support.
S&P 500 (0.15%) 07 March 2021
- The index closed -0.15% below its 52-week high
- 190 (37.62%) stocks advanced and 314 (62.18%) declined
- Communication Services (0.73%) was the strongest sector and Materials (-1.74%) was the weakest
- 4 out of the 11 sectors outperformed the index
- 94.26% of stocks closed above their 200-day average
- 87.52% of stocks closed above their 50-day average
- 79.21% of stocks closed above their 20-day average