All indexes month and week trends are up. The daily trends are up for all indexes but SWED where the 8 MA has turned down with a warning. The 2 hr trends are mixed.
The biggest surprise Friday was the US 10 year bonds which fell sharply and the yield closed up at 2.63 percent.
The DOW and SP500 closed on upside and the DOW got a buy signal on crossover at the 2 hr chart and SP500 is very close to a cross on upside as well. If you look at Thursday and Friday 2 hr bar charts below you see that the trading was dominated by robot trading with long bars suddenly rising and falling, no clear direction. Monday morning until Europe opens I expect these indexes to calm down and give a better picture what is next. SP500 has been down to 752 as a low intra day but closed at 761. The technical picture indicates trading between 755 and 768 to start with.
If the 10 yr Notes will continue its down trend the risk is that the US indexes will loose interest to try the all time highs from last week.
The biggest surprise Friday was the US 10 year bonds which fell sharply and the yield closed up at 2.63 percent.
The DOW and SP500 closed on upside and the DOW got a buy signal on crossover at the 2 hr chart and SP500 is very close to a cross on upside as well. If you look at Thursday and Friday 2 hr bar charts below you see that the trading was dominated by robot trading with long bars suddenly rising and falling, no clear direction. Monday morning until Europe opens I expect these indexes to calm down and give a better picture what is next. SP500 has been down to 752 as a low intra day but closed at 761. The technical picture indicates trading between 755 and 768 to start with.
If the 10 yr Notes will continue its down trend the risk is that the US indexes will loose interest to try the all time highs from last week.
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