FxPro Financial Services Ltd | Aug 24, 2021 05:37AM ET
US indices NASDAQ 100 and S&P 500 made new all-time highs on Monday, gaining 1.46% and 0.85% on the day. Last week's drawdown was bought back as quickly as it was in the last several months.
The daily charts of the S&P 500 clearly show how the American market indices have been falling over the last year by the expiration date of the monthly options (third Friday of the month). In the meantime, explanations for market movements due to fears of increased illness or a sell-off are falling by the wayside.
The two trends rarely coexist for long, so it is worth keeping a close eye on which one will take the upper hand, and it is often the case that turning points are better seen in the currency market rather than the stock market.
The FxPro Analyst Team
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