S&P500 retreats from record high


In overnight trading, US market close slightly lower. The S&P retreated from a new record high, the DOW Jones lost 14.24 points, the S&P was down 1.98 points and the NASDAQ retreated 7.98 points. It is not a very big fall but a little bit of weakness creeping in around highs which is not always a great sign but we will have to see how that plays out.

To watch the full video market wrap, click play on the video below.

So Europe basically shook off those weaker ends to the sessions posting a stronger session. So the DAX was up 65.15, the FTSE was up to new month high at adding another 15.66 points. Oil continues to strengthen as speculation grows, OPEC will try to retain output into the near future. But Oil did close at 42.85 overnight.

Gold was slightly weaker overnight, it is down 70 cents, I am still seeing 1333 as the short term support at the moment. So we have had a spinner candle that is turning into a failed low. As that was yesterday’s candle that is still sticking around as support point so this could be setting up a potential test higher, we just have to see how that develops. But definitely looking a little bit like there’s bit more of a positioning going on and in Gold at the moment on the support side.

So the USD had a mixed session it was stronger to the JPY, it was weaker to AUD and the EURO. The USDJPY setting at 102.50 this morning and that is a resistance point, it is not a very strong one but it something to keep a bit of a look at and see how the USD could handle the point at the moment.

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So the Aussie dollar is one I am still watching at the moment. It is still sitting around this high point and has try to break out this morning but it is been sold down again. That is 0.7650 up to 0.7665 but basically a move above that is confirming the overall ending diagonal path that its currently trading in.

This is just a short transcript of the video. Click play on the video above to listen to the full market wrap.

Good Trading.
All times are in AEST.

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