At the start of last week, things didn’t look great for the bulls. There were several signs of weakness that could have easily led to a daily trend reversal. However, that didn’t materialize. Firstly, on Monday, buyers were able to set a daily higher low. Then, on Wednesday, they positioned the price very close to the previous two weeks' high. Finally, with the...
US markets were closed for the 4th July holiday which saw muted trading across the European session. The RBA held off on another rate rise much to the relief of Australians who are feeling the squeeze. The RBA notes that a lot of the inflation can be attributed to corporate profit margins increasing so may be a reason why they are holding off on rates (as raising...
Major indexes in the US and Europe come under fire on concerns for a global economic slowdown and the US debt ceiling fiasco. Traders went risk off as retail sales pointed to a slowdown in consumer spending while uncertainty over interest rates also weighed on sentiment. I expect that the same theme will weigh on the share markets today and into the coming...
US stocks closed sharply higher on Friday, lifting indices enough to book strong weekly gains after a bath of economic data drove investors to ease expectations of aggressive monetary tightening by the Federal Reserve. Markets ended on a high note today. The Dow Jones added 700 points and the S&P 500 gained 2.3%, both notching gains of 1.4% on the first week...
Bias: Neutral. Top Watches: Long - CCRN, NTNX, ABNB, BA, DAL, UAL. Short - PLUG, FIGS
Overall market has been consolidating for a few weeks now. Price movement is stagnant and no signs of major activity are seen. I foresee the market like this a while due to summer season as investors and traders are on vacation. There are still trades available but you will have to go to another session to spot these trades out.
Markets overall have been in a range market with a high degree of volatility. Pay attention to your risk reward targets and tighten up the target profits. You are may not see those target getting hit in this slow market activity. Take the bunt hits and walk away. Be patient and look for the hanging fruit trades. Good luck and remember to stay patient.
Morning Jumpstart Macro View and US market recap 1-02-22 The US had a late session burst higher that dragged the major Indexes into green territory ahead of key US employment data Friday. The USD continues to grind lower while Gold was range bound. Copper had a strong session while Oil continues to hold recent gains setting for another push higher. For a deeper...