The monthly chart below shows the S&P 500 holding its 12-month moving average throughout long-term moves over the last 9 years. A decisive close above or below this 12-month moving average has been indicative of a long-term trend change, which occurred last month. Also notice that MACD(5,35,5) moved below its signal line and into negative territory.

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Markets gained a temporary sense of optimism as FX risk-correlated trades recover from yesterday’s sell off and equity markets rally in Asia. Yesterday we saw a sharp reversal – especially in the EURUSD as leveraged players cut their long positions after the pair lost momentum and seemed to run into resistance. EU officials are on the wires talking up the bank stress test due to be released this…

Apple proved once more its iProducts make for a powerful earnings machine, but that may not add much juice to tech shares Wednesday.