Market Highlights
1 - Another record for the S&P and NASDAQ, DJ marginally lower
2 - Big gainers today included: TSLA, SOFI, DASH, UBER, DELL
3 - Gold up $77 to $3693; WTI crude up $0.82 to $61.70; Ethereum up nearly 5% as it aims towards a big break
4 - US 10yr yields up 4.7 bps; JP Morgan turns bullish on Eurozone stocks
5 - AUD leads, JPY lags, Euro hits all-time high against Yen
Daily Price Activity
Insights
USD INDEX The index gapped up to start the new week, followed by buyers adding to the move higher during the Asian session. The European and US sessions saw a reversal with sellers stepping in and ending the day back where it started. Note the doji-like candlestick confirming the indecision. Resistance at 98.19 with support at 97.67. Current resistance has been tested 3 times since September 2025.
S&P 500 Steady buying throughout the session saw the uptrend maintained with a 3rd consecutive higher low on the charts. The strong showing was enough to record a record close for the index. Resistance at 6796 with support at 6764. Sellers continue to stay on the sidelines with neither profit taking or overbought technicals taking away from the overall demand within the major US stock markets.
GOLD Another day, another record high as the metal continues to soar. Resistance at $3970 with support at $3898. Demand for the safe haven commodity has yet to face barriers to halt the rally as buyers look determined to reach the $4000 mark. Factors that could pause, if not stop the one-way traffic could be a surge of strong demand for the USD. A pause/retracement may entice a bout of profit taking which would pick up steam should sellers anticipate a potential reversal.
BRENT OIL A gap up to start the day, followed by buyers doing enough to maintain demand and signal a green candlestick on the daily chart. Resistance at $65.82 with support at $64.72. Notwithstanding today’s bounce, the trend remains down. Note the $65 mark shaping up to be a pivotal level with the current price at $65.47.
BITCOIN Buyers maintained control and fought back from yesterday’s retracement following a record high earlier in the day (Sunday October 5th). A new record high was established at $126.2K today with support lower at $123K. Trend, bias and sentiment favour the upside. As the cryptocurrency trades in unchartered territory the lack of previous resistance levels could make for sharp moves in both directions.
FX Pivot Levels
