Market Analysis by covering: S&P 500, US Dollar Index Futures, S&P 500 Futures, Crude Oil WTI Futures. Read 's Market Analysis on Investing.com
Gold prices rise but head for second weekly loss as Iran war spurs inflation fearsfell by 1.5% on Thursday, marking its lowest close since mid-November. At this point, the index has broken support at 6,700, which sets up the next area of support around 6,600.
Gamma positioning at the 6,600 level is fairly strong, making it the next likely battleground for the market, as 6,700 is now likely to act as resistance.and may be approaching a point where they could begin establishing short positions in the S&P 500. This will be something to watch for in the headlines over the next few days for confirmation. The chart shows that 6,630 is an area of support from a gap created at the end of November, and after that, 6,500 could come into play. If systematic flows turn short, that could add pressure to the market heading into options expiration week, whenETF, a good indicator of credit spreads, fell to its lowest level since June, unadjusted for dividends. HYG, without dividends, tends to track the direction of HY credit spreads, such as the BofA High Yield OAS, when the HYG chart is inverted. Meanwhile, on Thursday, the US dollar index futures rose above what appears to be resistance at 99.75, and it could very well be the case that systematic flows have already flipped from short to long, which may only add to the recent strength in the dollar. Certainly, just looking at the technical chart would suggest the dollar may have further to climb.12 months forward closed 5 bps above the 3-month Treasury rate. That is the first time this has happened since last year, a further sign thatRisk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks. Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes.and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website. It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
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