European stocks down again today

Technical Analysis

Author: Greg Michalowski | european-stocks

Not ending the year with good cheer. Yields are higher.   Gold is up. The USD is down.  

The major European indices are ending the session mostly lower:
  • German DAX down -0.72%
  • France's CAC down -0.65%
  • UK FTSE ends unchanged
  • Spain's Ibex down -0.76%
  • Italy's FTSE MIB -0.36%
  • Portugal's PSI20 down -0.22%
In the European 10 year debt market, yields are mostly higher:

  • Germany 0.423%, up 3.9 basis points
  • France 0.767%, up 4.8 basis points
  • UK 1.195%, up 2.3 basis points
  • Spain 1.516%, up 4.7 basis points
  • Italy 1.952%, up 3.1 basis points
  • Portugal 1.906%, up 6.2 basis points
  • Greece 4.116%, unchanged
IN other markets as London/European traders looked exit:
  • Spot gold is trading up $7.24 or 0.56% at $1294.54
  • WTI crude oil futures are trading up $0.02 or up 0.03% at $59.55
  • Bitcoin (on Bitstamp) is trading down $1009 at $14,100. The 100 hour MA was broken today and remains a topside resistance at $14642.38. The 200 hour moving average is at $14,869.16.  Stay below is more bearish.  
  • US stocks are trading a little higher: S&P index is up 2.24 points or 0.09%.  The NASDAQ composite index is up 8.52 points or +0.12%.  The Dow industrial average is up 38 points or +0.15%
  • US yields are still higher with the 5 year getting the biggest boost.  Two years are unchanged.  Five years are up 3.1 basis points.  10 year is up 1.2 basis points.  30 year is up 0.8 basis points
In the Forex market, the CHF remains the strongest currency, while the USD is the weakest (and has gotten weaker vs the NY opening levels). 

The EURUSD and USDCHF are trading at session extremes currently. The GBPUSD and USDCAD are trading just off the day's extreme.