1

Fairly quiet following Inauguration.

The S&P500 and NASDAQ carved out new highs following the Biden Harris Inauguration but there has been little change elsewhere. The same mantra applies: watch for any new momentum-based trend line breakouts.

 

NB: there will be one update this weekend and this will be released on Sunday.

 

Data: watch for any impact from today's batch of EUR PMIs:

 

DXY daily: back to ranging within the wedge:

 

S&P500:

SPX daily: higher but note the bearish-coloured Spinning Top indecision candle:

 

SPX 4hr: watch revised trend lines for any new momentum b/o:

 

NASDAQ daily: higher but note the bullish-coloured Spinning Top indecision candle:

 

ASX-200 4hr: stalled at resistance from the pre-GFC High of 6,851.50. Then there is also the 2020 High of 6,893.70:

 

Gold 4hr: watch revised trend lines for any new momentum b/o:

 

EUR/USD 4hr: watch 1.22 for any new momentum b/o:

 

AUD/USD 4hr: watch trend lines for any new momentum b/o:

 

AUD/JPY 4hr: watch revised trend lines for any new momentum b/o:

 

NZD/USD 4hr: watch 0.72 for any new momentum b/o:

 

GBP/USD 4hr: watch 1.37 for any new momentum b/o:

 

USD/JPY 4hr: watch revised trend lines for any new momentum b/o:

 

GBP/JPY 4hr: watch the weekly 200 EMA and trend lines for any new momentum b/o: