Daryl Guppy is an independent technical analyst who appears frequently on CNBC Asia. He runs training, analysis and resource workshops for retail and professional financial market traders involved in stocks, CFDs, warrants, derivatives, futures and commodities in China, Malaysia, Singapore and Australia. He has his own trading company, guppytraders.com.
The Nasdaq has provided consistent leadership in market development since the beginning of the bear market on late 2007. This information is especially useful if you are trading the Dow or the S&P 500, as these indexes follow the Nasdaq with a lag of several days.
General Electric reports first-quarter earnings on Friday. What do the charts say about about the venerable stalwart of Wall Street? Well it looks like investors may have to wait a long time for returns. Traders, on the other hand, will have much more fun and profit.
Surprise easing from the Bank of Japan (BOJ) at the end of October fueled gains in the Nikkei, but charts indicate further upside may be limited.
Charts suggest a new upside target for the dollar-yen after fresh stimulus measures from the BOJ pushed the pair to seven-year highs.
A stronger U.S. dollar pushed gold within range of a fresh four-year low last week, and charts suggest further downside is likely.
Expectations that the Fed will hike rates in 2015 coupled with concerns about the health of the euro zone economy are weighing on the euro/dollar.
Daryl Guppy is an independent technical analyst who appears frequently on CNBC Asia.