In the recent development corporate America's tone is now changing towards the brighter side. With that said, analyst are looking into the corporate taxes on Wall street which was a concern then. Analyst are connecting the dots where equities would best be seen with the SP500 & DOW's recent rally can be attributed to. With US Statutory tax (ST) at current levels of 39%,while corporate taxes average at 28%; studies shows if ST can be lowered to or near the average then equities would certainly be higher with profits going in the same direction. Thus better benefits directly for most American workers moving forward.
"The Dow Jones industrial average (DJIA) at 18,804.42 remained up 5.1 percent for the week closing at 18847.66. While the SP500 posted 36 new 52-week highs and 6 new lows; the Nasdaq Composite recorded 314 new highs & 33 new lows. Nasdaq Composite added 0.22 percent to 5,220.37 resource based on Thomson - Reuters Data."
That is why our price page indicator tracking the Highs & Lows of the currency market including the major indices is part of the trading process that MegaTrade101 describes in its CIPHER3 Beyond Charting & Price Action Analysis. (Key Reference) Note, that there are instances that new highs & lows are made in the same month especially when an increase in price swing volatility moves in both directions.
The Chart above is a Comparison between the DOW,SP500, DXY, NASD, NIK225 CORRELATION. And the summary performance for the week including the Highs & Lows of the listed instruments.
FX & Equity Summary: TRADING RANGE / OHLC / VIEW / NEAR TERM TREND for the week ending Nov 11, 2016. Based on MegaTrade101 Price Page Indicator
INST T. RANGE OPEN HIGH LOW LAST REASON - NEAR TERM TREND
DXY 3.23 TR 97.45 99.13 95.89 99.00 US ELEC UP UP
GBPUSD 323 TR 1.2450 1.2673 1.2350 1.2595 UKCRT PREC PREC
EURUSD 470 TR 1.1057 1.1300 1.0830 1.0853 N LOW DWN DWN
USDJPY 5.76 TR 104.10 106.96 101.20 106.60 N HIGH USD UP
USDCHF 346 TR 0.9773 0.9896 0.9550 0.9870 USD PREC PREC
AUDUSD 253 TR 0.7677 0.7778 0.7525 0.7540 CORR CSLD MCORR
EURGBP 458 TR 0.8877 0.9024 0.8566 0.8610 N LOW DWN DWN
XAUUSD 118.33TR 1305.10 1337.20 1218.87 1226.20 N LOW PR MCORR
DOWI 879 TR 17994.65 18873.66 17994.60 18847.66 N HIGH UP UP
SP500 81.71 TR 2100.60 2182.30 2100.59 2164.50 N HIGH UP UP
NI225 1510 TR 17126 17621 16111 17374 N HIGH UP UP
Legend: US Election, UK CRT - UK Court, PREC - Price Recovery, PR - Price Reversal, CSLD - Consolidation, N High - New High, N Low - New Low, MCORR - Major Correction, INST - Instrument
"The Dow Jones industrial average (DJIA) at 18,804.42 remained up 5.1 percent for the week closing at 18847.66. While the SP500 posted 36 new 52-week highs and 6 new lows; the Nasdaq Composite recorded 314 new highs & 33 new lows. Nasdaq Composite added 0.22 percent to 5,220.37 resource based on Thomson - Reuters Data."
That is why our price page indicator tracking the Highs & Lows of the currency market including the major indices is part of the trading process that MegaTrade101 describes in its CIPHER3 Beyond Charting & Price Action Analysis. (Key Reference) Note, that there are instances that new highs & lows are made in the same month especially when an increase in price swing volatility moves in both directions.
The Chart above is a Comparison between the DOW,SP500, DXY, NASD, NIK225 CORRELATION. And the summary performance for the week including the Highs & Lows of the listed instruments.
FX & Equity Summary: TRADING RANGE / OHLC / VIEW / NEAR TERM TREND for the week ending Nov 11, 2016. Based on MegaTrade101 Price Page Indicator
INST T. RANGE OPEN HIGH LOW LAST REASON - NEAR TERM TREND
DXY 3.23 TR 97.45 99.13 95.89 99.00 US ELEC UP UP
GBPUSD 323 TR 1.2450 1.2673 1.2350 1.2595 UKCRT PREC PREC
EURUSD 470 TR 1.1057 1.1300 1.0830 1.0853 N LOW DWN DWN
USDJPY 5.76 TR 104.10 106.96 101.20 106.60 N HIGH USD UP
USDCHF 346 TR 0.9773 0.9896 0.9550 0.9870 USD PREC PREC
AUDUSD 253 TR 0.7677 0.7778 0.7525 0.7540 CORR CSLD MCORR
EURGBP 458 TR 0.8877 0.9024 0.8566 0.8610 N LOW DWN DWN
XAUUSD 118.33TR 1305.10 1337.20 1218.87 1226.20 N LOW PR MCORR
DOWI 879 TR 17994.65 18873.66 17994.60 18847.66 N HIGH UP UP
SP500 81.71 TR 2100.60 2182.30 2100.59 2164.50 N HIGH UP UP
NI225 1510 TR 17126 17621 16111 17374 N HIGH UP UP
Legend: US Election, UK CRT - UK Court, PREC - Price Recovery, PR - Price Reversal, CSLD - Consolidation, N High - New High, N Low - New Low, MCORR - Major Correction, INST - Instrument