US Stocks Rally For Another Day: Brexit Drama - Forex News by FX Leaders
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US Stocks Rally For Another Day: Brexit Drama

Posted Thursday, March 14, 2019 by
Rowan Crosby • 1 min read

Equity markets have made another strong leg higher with the SPX up 0.7% on the session.

Most of the members of the DOW were higher on the session, with Boeing finally making a bit of an up move after the US and Canada each grounded their 737s.

The main story of the day was again the Brexit, where the UK parliament voted against leaving the EU without a deal. The attention will now turn back on PM May to find a way to both work out a deal and also keep her job in the process.

In Asian trade, there will be a host of Chinese Data to be released and that will likely be the driving force until Europe opens and absorbs the latest Brexit saga.

So far today the ES is down only 4 pts or 0.14%.

 

Technical Outlook

The SPX has ticked back above the 2800 level, however, this is no certainty to hold as we’ve seen in the past.

The round number levels are the major focus at the moment and 2700 is S1 and R1 at 2800.

We are now looking at another test of 2820 which are the recent highs that we can’t crack just yet.

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About the author

Rowan Crosby // Asia-Pacific Analyst
Rowan Crosby is a professional futures trader from Sydney, Australia. Rowan has extensive experience trading commodities, bonds and equity futures in the Asian, European and US markets. Rowan holds a Bachelor of Finance and Economics degree and is focused heavily on Investment Finance and Quantitative Analysis.
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