Market Analysis (23 March’21)

US stocks ended lower on Tuesday as investors weighed US Federal Reserve Chairman Jerome Powell’s comment that economic growth should not lead to unwanted inflation.

TREND ANALYSIS

S&P500: Monthly, Weekly and Daily Heikin Ashi Charts

Nasdaq: Monthly, Weekly and Daily Heikin Ashi Charts

Russell: Monthly, Weekly and Daily Heikin Ashi Charts

Dow Jones: Monthly, Weekly and Daily Heikin Ashi Charts

FUTURES PRICE LEVELS

S&P500

Key pivots: 3945 and 3900

ES, 4h

Nasdaq

Key pivots: 13300 and 12700

NQ, 4h

U.S. DOLLAR – DEJA VUE?

The U.S. dollar might be forming another Bear Trap pattern on its weekly chart. Prior similar pattern was formed in 2018 and led to the dollar’s multi-months rally. If the U.S. dollar continues to rise in the coming weeks, this might put downward pressure on the U.S. equities.

U.S. Dollar, Weekly

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