A break above the 13701.50 level may signal a new rally. Important resistances still stand at Fibonacci 0.618 resistance at price 13799 and the all time high 14059.50 price. A break below the trendline level may signal a further sell-off. Important support lines at 13289, 12627 and 12199.50 price levels derived from previous daily bottoms and inside support levels.
• The US markets will be quiet in terms of news announcements today. The dollar seems to be continuing its weakness after falling to a two-month low following Friday’s disappointing U.S. jobs report.
• Friday’s U.S. employment report for April was well below expectations. Non-farm payrolls only rose by 266,000 during the month, despite robust payrolls data from the ADP and weekly initial claims numbers that lifted expectations to a one million-plus rise.
• According to a morning report on “fxstreet.com” Elon Musk caused Dogecoin to tumble. He said on a Saturday live entertainment tv program that the digital asset is "a hustle." Ethereum stood out with a surge to all-time highs above $4,000. Bitcoin was hovering around $59,000.
• Oil and gasoline futures extended gains after a cyber-attack shut down a U.S. pipeline operator that provides nearly half of the U.S. east coast's fuel supply.
• On Friday the Dow Jones Industrial Average and the S&P 500 rose to record closing highs. This came after disappointing data on the U.S. jobs market and eased concerns about a spike in consumer prices.
US Indices yesterday:
• Dow Jones +0.66%
• S&P 500 +0.74%
• Nasdaq +0.88%