Indices and Gold Continue The Rise

 

So far saying “Sell in May and go away” is not much of a thing on global stock exchanges.

The SP500 made a nice V shape reversal from a major uptrend line.

The Dow Jones is seeing the same kind of movement.

The Nasdaq on the other hand is struggling a little bit but an inverse head and shoulders pattern could make the situation more positive.

The DAX just hit new intra-day all-time highs, so I guess that we have to admit that the sentiment is positive.

Gold broke the upper line of the wedge pattern, officially starting a new bullish wave.

Brent oil is surely aiming for the upper line of the channel up formation.

The EURUSD is moving very similarly to gold but it also escaped from the wedge to the upside.

The EURCAD is in an inverse head and shoulders pattern. For a buy signal, we need to see a breakout of the neckline.

For a look at all of today’s economic events, check out our economic calendar.