USA30, Daily
U.S. equities extended their rally yesterday while in the sweet spot between French election results and renewed U.S. tax cut promises, which unleashed animal spirits once again. Wall Street closed positively with the Dow over 21,000 again, after NASDAQ cleared 6,000 earlier in the day. About 50% of the gains in the Dow were accounted for by CAT +6.7% and McDonald’s +4.6%, which knocked the cover off their earnings reports. The dollar index is up, off yesterday’s lows near 98.85, WTI crude is 0.4% lower near $49.20 bbl and gold is lower near $1,265 The VIX equity volatility index sank 2.2% to the 10.60 area, compared to 10.22 session lows and just above 9.97 year-lows.
The stock market rally took our USA30 position from Monday (April 24) to Target 1 (21000) for a net gain of 250 points, the Risk On sentiment also helped the AUDCAD position (April 17), and the GBPJPY trade (April 20) both to hit Target 2. The total gain from the three positions was over 700 pips.
Join me later today as I demonstrate how to “Put it all together – Entry, Target, Stop Loss, Risk & Money Management” at our latest webinar.
Click here to access the HotForex Economic calendar.
Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! The next webinar will start in:
[ujicountdown id=”Next Webinar” expire=”2017/04/26 11:00″ hide=”true” url=”” subscr=”” recurring=”” rectype=”second” repeats=””]
Stuart Cowell
Senior Market Analyst
HotForex
Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
