SGT Chart Book

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SP500 has its worst week since March, closing down 2.9% for the week.

Highlight of the week was the Fed announcement, leaving a possibility of a further rate hike this year and expects to keep rates higher for longer than previously forecast.

US30 (Dow Jones)

Break of daily up trendline and test of 200 day moving average.

Tesla (TSLA)

Consolidation on daily chart after one of the star stocks of the year.

US 10 Year Rates

Yield pushed higher since the Feds announcement on Wednesday, closing at a 15 year high on Thursday at 4.47%. Up channel still the dominant technical pattern.

DXY Dollar Index

Higher US rates helped extend the dollar’s rally towards the year’s high. With a 10th successive week of gains. We do notice bearish divergence in the daily charts. Short-term traders might look to take advantage.

EURUSD

Short-term downtrend continues, divergences can also be seen here with a lower EURUSD not supported by the RSI.

XAGUSD

Silver continues to trade within the triangle pattern, highlighted last week.

BTCUSD

We can see the significance of the horizontal support line, looking left we see 5 tests both a support and previous resistance. Another sideways week for BTC.

Until next week, happy trading…
SGT Trade Desk

Disclaimer: Trading Desk Observations are not trade recommendations. The purpose of these charts is to bring to your attention potential chart patterns you may wish to monitor.

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