Late last year, the US market bottomed on November 16, 2012. Since then it has been powering higher defying all odds. During this time – 196 calendar days or 134 trading days – the index has not had a significant pullback. Before last week’s decline, it had only three shallow pullbacks averaging -3.43% and lasting…
Last week started a volatile period for Nikkei 225. As we noted on May 24th, there are two opposing forces acting on the Japanese economy. One is Abenomics and the other is formed by a combination of fundamental reasons, namely –1) Weak closing of S&P 500 following confusing testimony of Chairman Bernanke; 2) Volatility in…
US stock market has run through many resistance levels created over the last decade and is at a very high level. Most of the broad market indices are either at all time high or much higher than the pre-financial-crisis level achieved in 2007-2008. Dow Jones Industrial Averages, S&P 5oo are at all-time highs. So are…
After making a new high since December 2007, Nikkei 225 dropped -1,143 point or -7.3% on Thursday. Friday turned out to be no better with a yo-yo move. Though Nikkei gained +128 points, it was far lower than the 500 point gain that the index had intraday. In two days, the index dropped -6.4% and…
By reaching a low of 78.915 in the last week of January 2013, the Dollar index made a double bottom – it made the first bottom of 78.725 in early September. The index completed the pattern in late February 2013, by breaking above the intermediate high of 81.515 between the two bottoms made in the…
The U.S. Dollar Index is a geometrically average of six currencies weighted against the U.S. dollar. The Federal Reserve created it in 1973, and the ICE USDX index is the trading vehicle. The index contains six currencies: the euro, Japanese yen, British pound, Canadian dollar, Swedish krona, and Swiss franc. The euro replaced five European…
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