US Open. Market Overview for 25.08.2016
25.08.2016
Pre Market:
The S& P500 Future is trading down -0.21%. The DAX has dropped -1%. A weak Wall Street and further insecurity about monetary policy from the Fed, ahead of Janet Yellen´s speech, putting pressure on prices. Additionally, IFO, Germany indicator for business conditions, came in weaker than expected. Automotive stocks are today´s loss leaders. Initial Jobless claims in the USA dropped slightly. The Euro is trading up against the USD and the Yen. The Yen is losing to the USD. Gold and WTI Oil are also trading down. After yesterday´s losses, we expect a weaker opening for Wall Street.
The S& P500
The S&P500 is in an upwards trend. Short term we are in a sideways move. Resistance is at 2197 and support is to be found at 2150.
Nasdaq 100
The Nasdaq 100 is in an upward trend. Short term we see a sideways move. Resistance is at 4837 and support is to be found at 4767.
RoboForex Analytical Department
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.