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The Nasdaq 100 has a tough month for February, as traders have been dealing with a whole list of external issues, and the earnings season. However, in the month of March, its likely we will continue to see resilience.
The EUR/USD is near the 1.19500 level as of this writing with fast conditions still shaking the broad Forex market, this as the currency pair traverses within values it has not seen since June 2021 in a sustained manner.
The USD/ZAR not only has broken below the important psychological level of 16.00000 in the past couple of days, but is now trading near the 15.74000 realm with fast trading easy to see.
The S&P 500 has spent the bulk of January, perhaps doing so in order to work off some of the excess that the markets have seen for the last several months before.
Silver has been very noisy to say the least, mainly to the upside obviously during the month of January as well as several months before. All things being equal, this is a market that I think is going to continue to see a lot of noisy and bullish behavior, but a short-term pullback from here then opens up the possibility of finding value in a market that has essentially just exploded to the upside.
The Nasdaq 100 has gone back and forth again during the month of January continuing the sideways action that we had seen in both November and December. Ultimately, I think this is a market that is trying to do everything they can to break above the 26,000 level.
While silver has been taking most of the headlines, it is worth noting that during the month of January we saw gold piercing the crucial $5,000 level, an area that I thought it would be months before we took out.
The Light Sweet Crude Oil market has been a bit positive for the month of January, but quite frankly we have been bouncing from a very oversold position. Because of this, I don't read too much into the positivity other than we had tested a major support level in the form of $55 recently and have recovered.
The USD/JPY is near the 153.325 ratio as of this writing, this after a full month of tumultuous trading in the currency pair which has led to widespread accusations and rumors regarding price fluctuations.
BTC/USD as of this writing is floundering above the 88,000.00 mark and has shown some downwards motion the past week that may look concerning to some of its backers.
BTC/USD is near the $88,500.00 vicinity as of this writing and has produced plenty of sideways nervous price action in December, essentially showing a range between 85,000 and 93,000 with outliers.
The EUR/USD is closing December’s trading near the 1.17630 vicinity as it fluctuates within holiday conditions as the New Year and January get ready to greet financial institutions and their sentiment.
The USD/INR as of this writing is hovering slightly above 90.0600, this after the currency pair has shown an ability to climb down from highs seen on the 17th of December when the 91.4250 mark was challenged.
The South African Rand has seen another month of very solid bearish momentum continue in December, as the New Year gets ready to start speculators will wonder if the trend can remain strong.
Bitcoin enters December trapped in a crucial range between $80,000 and $92,500 after a sharp plunge, with sideways consolidation likely unless a breakout or breakdown defines the next major move.
