In my post of December 16, 2014, I stated:
" It may be that we will see larger volatility ensue in currencies, before they play out to any great extent (or near-term trends become very clear) in world indices."
The RSI, MACD and Stochastics indicators on the following Daily ratio chart below of the SPX vs Swiss Franc ($SPX:$XSF) were forecasting a weakening of the SPX compared to the XSF from last November.
Who knew we'd see a drop of 18.75% (of the Swiss Franc) in one day (last Thursday)! A drop and hold below its (the SPX:XSF ratio) current major support level of 17 (formed from early-to mid-2014) could roil equity markets globally.
The RSI, MACD and Stochastics indicators on the following Daily ratio chart below of the SPX vs Euro ($SPX:$XEU) are also forecasting a weakening of the SPX compared to the XEU from last November.
Perhaps we'll see a repeat of the above price action when the ECB's President Draghi speaks on January 22nd...if so, price could plunge to somewhere between 13.5 and 14.0 at major support...or lower...one to watch in the near term, along with world markets!
Welcome and thank you for visiting!
The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex
DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...
please read my full Disclaimer at this link.
UPCOMING (MAJOR) U.S. ECONOMIC EVENTS...
* Mon. Dec. 25 ~ U.S. Markets closed for Christmas Day holiday
* Mon. Jan. 1 ~ U.S. Markets closed for New Year's Day holiday
* Wed. Jan 3 @ 2:00 pm ET ~ FOMC Meeting Minutes
* Fri. Jan. 5 @ 8:30 am ET ~ Employment Data
* Wed. Jan. 17 @ 2:00 pm ET ~ Beige Book Report
* Wed. Jan. 31 @ 2:00 pm ET ~ FOMC Announcement
* Tues. March 20 ~ 2-day FOMC Meeting Begins
* Wed. March 21 @ 2:00 pm ET ~ FOMC Announcement + FOMC Forecasts + @ 2:30 pm ET ~ Fed Chair Press Conference
*** Click here for link to Economic Calendars for all upcoming events