ASX

ASX 200 futures (SPI 200) were allowed to print a fresh record high on a daily-close basis. Yet 8500 remains a clear level of resistance, and one which prompted a potential bearish reversal pattern.

Wall Street indices took the relatively rare step of ignoring its tendency to rally ahead of the Thanksgiving holiday, and price action suggests there could be deeper pullback. Which may not bode so well for ASX 200 bulls who may be sleeping behind their wheel around a record high.

Welcome to Friday! Bitcoin inches closer to $100K, with spot and futures markets hitting record highs. Gold breaks above its 50DMA, bolstering bullish picture, while crude oil builds momentum despite lighter volumes. ASX 200 futures remain a buy-on-dips play, edging closer to record highs. EUR/USD stays under pressure, hitting fresh 2024 lows.

Wall Street indices displayed their first signs of doubt following Trump’s election victory last week, with the Dow leading losses on Tuesday. Weak sentiment from China has also weighed on ASX futures overnight.

A brutal day for risk sent Wall Street indices lower on Thursday, but support levels and the tendency for stocks to rise on the week of a US election could help the S&P 500 and ASX 200. Assuming the wheels don't truly fall off first.

A potential bearish reversal pattern suggests a drop to 7900 for the ASX, but only if it clears a support cluster first. China's A50 still looks solid above 13k to my eyes, despite yesterday's selloff.

Australia’s Q3 inflation report is the sole remaining domestic data release that could meaningfully influence the outlook for interest rate settings from the Reserve Bank of Australia (RBA) this year, making Wednesday’s report a key event for AUD/USD and ASX 200 SPI futures traders.

The bounce for the ASX nay end up being short lived, but price action suggests bulls might sneak in a 'last hurrah' over the near term. Meanwhile the China A50 continues to hold its ground and hint at a bounce of its own.

ASX 200 futures rose to a record high on Monday night, which could see the ASX 200 cash market gap higher and run for its own record high today. We're also looking at a potential bullish reversal on the Nikkei's 4-hour chart.

Wall Street traders were quick to pounce on a hotter-than-expected core CPI print from the US, on bets the Fed may not hike by 50bp next month. And that could bode well for AUD/USD and the ASX 200 today.

As entertaining or cringeworthy as the Presidential debate may be, US inflation data is likely to be the bigger event. And that could weaken AUD/USD and the ASX 200 if it surprises to the upside.

Riskier asset classes have often performed well ahead of US CPI reports recently. For AUD/USD and Australia’s ASX 200 SPI futures, such an environment should be advantageous for near-term gains. However, while the Aussie dollar may have room to run, for Australian equities, that will take them back into territory where they’ve struggled to overcome in the past.

Weaker employment data overshadowed a decent ISM services report on the eve of NFP, keeping bets of 100bp of Fed cuts this year alive. The ASX looks ominous and gold is nearing its record high ahead of this key employment report.

With so much attention on US employment data this week, I feel compelled to remind all that today’s ISM services report could pack a punch of its own.

AUD/USD is teasing bulls with a break of key resistance ahead of today's AU inflation figures.

The Dow Jones reached a record high on Monday, but only just. And unless other key markets close the gap, we could be looking at a bull trap.

Australian ASX 200 SPI futures are attempting to do something they’ve never done before: Successfully close the week above 8000 points. With extremely rich valuations in the local banking sector, it will likely require sentiment towards a soft landing for the global economy to be sustained, or a big bounce in iron ore futures, to make this attempt successful where so many others have failed.