Market Commentary

US30 - Settles Back Below 22000 as U.S. Coronavirus Cases Rise

on April 1, 2020 | By Stuart McPhee | DJIA, US30, US Federal Reserve

In the last week or so the US30 index has consolidated a little trading around 22000 after having moved so much in the last month or so. In the last week or so it surged higher from down near 18000 back up above 20000 which only added to its recent surge in volatility. Having moved around 200 points a day on average, this reading has surged to well above 1500 as the volatility has exploded to historic levels. In perspective, its recent surge higher comes on the back of a significant drop in the last month where it has moved from its popular trading range between 25000 and 27000 down to a three year low near 18000.

Market Recap: 23 - 27 March

on March 30, 2020 | By Stuart McPhee | AUDUSD, DJIA, GBPUSD, XAUUSD, US30, Gold

On Tuesday last week we covered the AUDUSD which spent the remainder of the week rallying higher regaining some of the lost ground from the previous two weeks. A week or so ago, in the face of steep falls, the AUDUSD was able to stop the bleeding and consolidate for a few days trading between 0.57 and 0.58. Given how fast it had been moving lower, the fact that it slowed right down was a positive which has now been backed up by its movement since to back above 0.61. In less than two weeks, the AUDUSD dramatically dropped sharply from around 0.66 down to an 18 year low near 0.55.

US30 - Surges Higher from Three Year Low as Fed Ramps Up Stimulus Measures

on March 25, 2020 | By Stuart McPhee | DJIA, US30

In the last 24 hours the US30 index has surged higher from down near 18000 back up above 20000 and only added to its recent surge in volatility. Having moved around 200 points a day on average, this read has surged to well above 1500 as the volatility has exploded to historic levels. In perspective, its recent surge higher comes on the back of a significant drop in the last month where it has moved from its popular trading range between 25000 and 27000 down to a three year low below 20000. In the week prior the US index had fallen sharply down through the key 29000 level to a nine month low below 25000 before a rally.

Market Recap: 16 - 20 March

on March 23, 2020 | By Stuart McPhee | EURUSD, DJIA, GBPUSD, UKOil, US30

On Tuesday last week we covered the US30 index which spent the remainder of the week continuing to decline to multi-year lows below 20000. In the last week or so the US index has recorded multiple record percentage and points drops. This resulted in its third significant weekly drop out of the last four pushing it to the lows below 20000. In the last two weeks the index has fallen sharply from above the key 25000 level, and this level is likely to reverse roles and offer any resistance if and when the index decides to climb back higher again.

US30 - Plummets to 3 Year Low Below 21000 Despite Fed Emergency Rate Cut

on March 17, 2020 | By Stuart McPhee | DJIA, US30, US Federal Reserve

In the last 24 hours the US30 index has recorded its third largest percentage drop in history as it has plummeted to a new three year low approaching 20000. This was after a strong week of falls which saw it collapse below the key 25000 level. It had spent the previous week consolidating as it traded wildly back and forth, between 25000 and 27000 as it has exploded in volatility by three times. In the week prior the US index had fallen sharply down through the key 29000 level to a nine month low below 25000 before the recent rally.

Market Recap: 9 - 13 March

on March 16, 2020 | By Stuart McPhee | AUDUSD, DJIA, GBPUSD, XAUUSD, US30, Gold

On Tuesday last week we covered the US30 index which spent the remainder of the week continuing to move back and forth sharply, exploding in volatility, however it did finish the week trading down near a 15 month low. Only two weeks ago, it rallied off the canvas having fallen so sharply to a nine month low below 25000 before rallying back up sharply to the key 27000 level, however it has since recorded its largest point drop in history as it has plummeted to a 15 month low below 24000.

US30 - Plummets to 15 Month Low Below 24000 as Virus and Oil Weigh

on March 10, 2020 | By Stuart McPhee | DJIA, US30, Coronavirus

In the last 24 hours the US30 index has recorded its largest point drop in history as it has plummeted to a 15 month low below 24000. This followed two previous days of strong falls, which followed a week of some consolidation where it traded wildly back and forth, between 25000 and 27000 as it has exploded in volatility, by three times. In the week prior the US index had fallen sharply down through the key 29000 level to a nine month low below 25000 before the recent rally.

Market Recap: 2 - 6 March

on March 9, 2020 | By Stuart McPhee | EURUSD, USDJPY, DJIA, UKOil, US30

On Tuesday last week we covered UK Oil which spent the remainder of the week falling sharply to a near three year low near $45. It started last week rallying higher from a multi-year low below $49 back up to above $52, however it reversed sharply and headed lower. Three weeks ago UK Oil had done well to rally back up into the range above $58 however it then fell even stronger over the week down to a 2 ½ year low.

US30 - Drops Back to 26000 as Fed Cuts Rates by 50 Points

on March 4, 2020 | By Stuart McPhee | DJIA, US30, US Federal Reserve, Coronavirus

In the last week or so the US index has exploded in volatility moving wildly back and forth, falling sharply again in the last 24 hours, after having rallied off the canvas in the 48 hours prior. In the week prior the US index had fallen sharply down through the key 29000 level to a nine month low below 25000 before the recent rally. In doing so, it has completely ignored any possible levels of support on the way lower indicating how strong the move has been.

Market Recap: 24 - 28 February

on March 2, 2020 | By Stuart McPhee | AUDUSD, DJIA, GBPUSD, XAUUSD, US30, Gold

On Tuesday last week we covered the AUDUSD which spent the remainder of the week continuing to fall to its lowest levels in more than 11 years. After applying pressure to the resistance at the key 0.6750 level for around two weeks, the AUDUSD has since moved sharply lower falling to near 0.64. Due to this multi-year low, there are no obvious support levels available, although the AUDUSD may very well be propped up at different levels.

US30 - Settles Back Below 22000 as U.S. Coronavirus Cases Rise

Market Recap: 23 - 27 March

US30 - Surges Higher from Three Year Low as Fed Ramps Up Stimulus Measures

Market Recap: 16 - 20 March

US30 - Plummets to 3 Year Low Below 21000 Despite Fed Emergency Rate Cut

Market Recap: 9 - 13 March

US30 - Plummets to 15 Month Low Below 24000 as Virus and Oil Weigh

Market Recap: 2 - 6 March

US30 - Drops Back to 26000 as Fed Cuts Rates by 50 Points

Market Recap: 24 - 28 February

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