Vantage FX
VantageFx Representative
- Messages
- 174
Chart of the Day:
But what about the ASX index futures market, or the SPI200 on your Vantage FX MT4 platform? Well the locals didn’t escape lightly, ending with the worst start to a year ON RECORD. Today’s open should be interesting for the SPI, with the US lead pointing to further pain.
SPI200 Daily:
Click on chart to see a larger view.
Taking a look at the daily chart, you can see just how brutal last week’s price action was! Price fell very nicely off a zone that had previously reacted in both directions and now is sitting at the bottom of a little consolidation range.
SPI200 Weekly:
Click on chart to see a larger view.
I’ve included the weekly chart for context, showing that the major bullish trend line is in jeopardy. On these major weekly trend lines that I talk about being subjective, I wouldn’t be looking to sell any sort of break too soon. It’s a long term bullish trend and there will definitely be buyers lurking to snap up any latecomers to the short term bearish party.
Don’t be that guy…
———
On the Calendar Monday:
JPY Bank Holiday:
Japanese banks will be closed in observance of Coming-of-Age Day.
“Coming of Age Day is a Japanese holiday held annually on the second Monday of January. It is held in order to congratulate and encourage all those who have reached the age of majority (20 years old over the past year, and to help them realize that they have become adults.”
AUD ANZ Job Advertisements m/m:
While today’s job advertisements data is actually only a third tier release, I have included it here as we have Australian employment data to be released on Thursday. As we head toward the end of the week, traders will be looking for clues in today’s number on which way to best position themselves.
Do you see opportunity trading Indices?
But what about the ASX index futures market, or the SPI200 on your Vantage FX MT4 platform? Well the locals didn’t escape lightly, ending with the worst start to a year ON RECORD. Today’s open should be interesting for the SPI, with the US lead pointing to further pain.
SPI200 Daily:
Click on chart to see a larger view.
Taking a look at the daily chart, you can see just how brutal last week’s price action was! Price fell very nicely off a zone that had previously reacted in both directions and now is sitting at the bottom of a little consolidation range.
SPI200 Weekly:
Click on chart to see a larger view.
I’ve included the weekly chart for context, showing that the major bullish trend line is in jeopardy. On these major weekly trend lines that I talk about being subjective, I wouldn’t be looking to sell any sort of break too soon. It’s a long term bullish trend and there will definitely be buyers lurking to snap up any latecomers to the short term bearish party.
Don’t be that guy…
———
On the Calendar Monday:
JPY Bank Holiday:
Japanese banks will be closed in observance of Coming-of-Age Day.
“Coming of Age Day is a Japanese holiday held annually on the second Monday of January. It is held in order to congratulate and encourage all those who have reached the age of majority (20 years old over the past year, and to help them realize that they have become adults.”
AUD ANZ Job Advertisements m/m:
While today’s job advertisements data is actually only a third tier release, I have included it here as we have Australian employment data to be released on Thursday. As we head toward the end of the week, traders will be looking for clues in today’s number on which way to best position themselves.
Do you see opportunity trading Indices?