Stocks see some pull back from gains

The major US stock indices Indices Stock market indices represents an index that measures a particular stock market or a segment of the stock market. These instruments are important investors as they help compare current price levels with past prices to calculate market performance.The main two parameters for indices are that they are both investable and transparent. For example, investors can invest in a stock market index by buying an index fund, which is structured as either a mutual fund or an exchange-traded fund, and track Stock market indices represents an index that measures a particular stock market or a segment of the stock market. These instruments are important investors as they help compare current price levels with past prices to calculate market performance.The main two parameters for indices are that they are both investable and transparent. For example, investors can invest in a stock market index by buying an index fund, which is structured as either a mutual fund or an exchange-traded fund, and track Read this Term have given up some of their gains. The major indices are still higher on the day but the bullish froth has lessoned. The US dollar is also reacting with a move off low levels.

Looking at the S&P daily chart, the price extended above the June 2 high at 4177.51 and traded to the highest level since May 5 (the high price reached 4186.62), but could not sustain momentum. The current prices trading at 4158.21 that still up 13 points or 0.31%, but they bullish bias has been tainted a bit. On the downside, the 100 day moving average at 4116.72 remains a key support level followed by the broken 38.2% retracement of the move down from the 2022 high at 4088.30.

In the forex, the USD has bottom and is seeing some buying:

• EURUSD. The EURUSD moved to a new session high and extended up to 1.02215. The current price is trading back down at 1.02058. It's 200 hour moving averages at 1.01992 and its 100 hour moving averages at 1.01897. The song remains the same him him story remains the same. Stay above the moving averages tilted the barometer in the favor of the buyers. Move below and its more bearish

USDJPY: The USDJPY USD/JPY The USD/JPY is the currency pair encompassing the dollar of the United States of America (symbol $, code USD), and the Japanese yen of Japan (symbol ¥, code JPY). The pair’s rate indicates how many Japanese yen are needed in order to purchase one US dollar. For example, when the USD/JPY is trading at 100.00, it means 1 US dollar is equivalent to 100 Japanese yen. The US dollar (USD) is the world’s most traded currency, whilst the Japanese yen is the world’s third most traded currency, resulting The USD/JPY is the currency pair encompassing the dollar of the United States of America (symbol $, code USD), and the Japanese yen of Japan (symbol ¥, code JPY). The pair’s rate indicates how many Japanese yen are needed in order to purchase one US dollar. For example, when the USD/JPY is trading at 100.00, it means 1 US dollar is equivalent to 100 Japanese yen. The US dollar (USD) is the world’s most traded currency, whilst the Japanese yen is the world’s third most traded currency, resulting Read this Term moved down to test the swing area between 134.314 to 134.587 and found buyers. The price is back above that swing area with the 50% midpoint the next upside target to get to an through and stay above if the buyers are to take more control.

GBPUSD: The GBPUSD moved up on the dollar selling to test the falling 100 hour MA (blue line) at 1.21336. Sellers leaned. The price moved lower and is back to a swing area between 1.20866 to 1.20989. That is the intraday support that if broken would increase the bearish bias.