AUD/USD, S&P 500, Dow Jones Outlook Mixed After Recent Gains

0


AUD/USD, S&P 500, Dow Jones Trader Positioning – Talking Points

  • IG Client Sentiment offers mixed AUD/USD, S&P 500, Dow Jones outlook
  • All three are attempting key technical breaks higher, what are roadblocks?

In this week’s webinar on IG Client Sentiment (IGCS), I discussed the outlook for the AUD/USD, S&P 500 and Dow Jones. IGCS is a contrarian indicator. For a deeper dive into what this means and for fundamental analysis, check out the recording of the session above where I also outlined the road ahead for GBP/USD starting around the 29-minute mark.

AUD/USD Sentiment Outlook – Mixed

The IGCS gauge implies that about 53% of retail investors are net long AUD/USD. Those with upside exposure have decreased by 5.52% over a daily basis while downside bets have increased by 5.30% over the same period. The combination of current sentiment and recent changes gives us a further mixedtrading bias.

How to Use IG Client Sentiment in Your Trading

How to Use IG Client Sentiment in Your Trading

Recommended by Daniel Dubrovsky

Learn more about how IGCS is a contrarian indicator

AUD/USD, S&P 500, Dow Jones Outlook Mixed After Recent Gains

AUD/USD Technical Analysis

AUD/USD may be aiming to extend its bounce off the 0.7015 – 0.7064 inflection zone. However, the pair is trading under the 20-day and 50-day Simple Moving Averages (SMAs). The former may cross under the latter, creating a bearish ‘Death Cross’ that may reinstate the focus to the downside.

AUD/USD – Daily Chart

AUD/USD, S&P 500, Dow Jones Outlook Mixed After Recent Gains

AUD/USD Chart Created in Trading View

S&P 500 Sentiment Outlook – Mixed

The IGCS gauge implies that roughly 40% of retail investors are net long the S&P 500. Upside exposure has decreased by 2.14% over a weekly basis while downside bets have increased by 1.74% over the same period. The combination of current sentiment and recent changes gives a further mixedtrading bias.

Starts in:

Live now:

Oct 07

( 00:10 GMT )

How can trader positioning impact the S&P 500?

What Do Other Traders Buy/Sell Bets Say About Price Trends?

Register for webinar

Join now

Webinar has ended

AUD/USD, S&P 500, Dow Jones Outlook Mixed After Recent Gains

S&P 500 Technical Analysis

S&P 500 futures have bounced off the 3213 – 3231 inflection zone and pushed above near-term falling resistance from early September. Now, futures are testing the 20-day and 50-day SMAs. A push higher and subsequent break above the 3373 – 3397 inflection range exposes the all-time high at 3587.

S&P 500 Futures – Daily Chart

AUD/USD, S&P 500, Dow Jones Outlook Mixed After Recent Gains

S&P 500 Chart Created in Trading View

Dow Jones Sentiment Outlook – Mixed

The IGCS gauge implies that about 57% of retail traders are net long the Dow Jones. Those with upside exposure have increased by 14.38% over a daily basis while contracting 8.03% compared to last week. The combination of current sentiment and recent changes gives us a further mixed Wall Street trading bias.

Follow me on Twitter @ddubrovskyFX for updates on price trends and retail positioning!

AUD/USD, S&P 500, Dow Jones Outlook Mixed After Recent Gains

Dow Jones Futures Technical Analysis

Dow Jones futures have bounced off the 26193 – 26494 inflection zone and are testing the 20-day and 50-day SMAs. This also follows a break above the near-term falling trend line from earlier this month. Further gains could overturn the bearish implications of the Head and Shoulders chart pattern formed beforehand.

Dow Jones Futures – Daily Chart

AUD/USD, S&P 500, Dow Jones Outlook Mixed After Recent Gains

Dow Jones Chart Created in Trading View

*IG Client Sentiment Charts and Positioning Data Used from September 29th Report

— Written by Daniel Dubrovsky, Currency Analyst for DailyFX.com

To contact Daniel, use the comments section below or @ddubrovskyFX on Twitter





Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here