Daily Market Review - 10/15/2014

US Stock Market (S&P 500)

U.S Indices fail to recover from last week declines and traded in red on Monday. The Dow Jones fell by 1.35%, the S&P 500 by 1.65%, and the NASDAQ lost 1.46% from its value. Technically, according to the daily chart, the S&P 500 is trading lower after it fail below the bullish trend line, holding this levels could lead the index to test the support of 1,850 points. Crossing below this support may lead the index to around 1,800 areas.

eBay (EBAY)

eBay shares fell by 2.70% closing at $50.46 after analysts lowered their expectations for the company earnings results this week. Technically, according to the daily chart, as long as the share is trading below the bullish trend line with Momentum indicator below 0, it is expected to fall to around $48.00 again.

Gold

Gold traded rose by 0.37% on Monday closing at $1,235 an ounce. Technically, according to the daily chart, the gold is maintaining the upper band of Bollinger band indicator. Breaching above this band may lead the gold to around $1,240 while failing may send the metal to test the support of $1,230 again.

Crude Oil

Crude Oil rose by 0.09%, closing at $84.91 a barrel. Technically, the oil is holding above the support of $84.00 with the RSI maintaining the oversold area. Holding those conditions may lead the oil to rise towards $88.00 for testing the bearish trend line. Breaching above this line could lead “black gold” for a correction.

Euro (EUR)

The Euro traded higher versus the U.S Dollar while showing signs of recovery after long declines. Technically, according to the 8 hour chart, the EUR/USD has breached above the bullish trend line after the MACD indicator turned positive. Holding those conditions may lead the pair to around 1.2800. Today, German ZEW Economic Sentiments is expected at 0.2 vs. 6.9 and the ZEW Economic Sentiment at 7.2 vs. 14.2 previously.

British Pound (GBP)

The Pound traded almost unchanged versus the U.S dollar has a proved for investors concerns after the Bank of England left its October interest rate unchanged. Technically, according to the daily chart, as long as the Moving Averages 20 is holding above the Moving Averages 10 the GBP/USD is expected to fall to around 1.6000. Today, the CPI is expected at 1.4% vs. 1.5% and the PPI Input at -0.4% vs. -0.6% previously.

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