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Korean pumptardednessEWY posted the same pattern as it did before the last 2 big drops. Entered into some puts today for next week. There's still room for it to go hit resistance and ATH, the 2 lines I've drawn. If it goes up from here, look for a similar pattern before shorting. I'm bearish for Monday, but who knows, they can do another vaccine pump, 3 weeks in a row, lol. Note, if it tanks on Monday, wait until Tuesday to short, it usually does a 2 step drop with an up day in teh middle.
AMEX:EWY
by hungry_hippo
KRW/USD Korean CurrencyCUrrency looks like it got rejected by resistance, should whipsaw here.... hopefully down next week. When trading foreign index ETFs like EWW, EWY, EWZ, or TUR, you gotta pay attention to the currency trade as well. The funds are NOT hedged against currency which means you're playing both the index and the currency. You can trade these ETFs to take advantage of currency trades, take a look at TUR. Between Biden being elected, vaccine, and the issue in Armenia being resolved, TUR went up like crazy this month.... (I missed the boat on it though I made a killing a couple of years ago when the Turkish Lira crashed)
by hungry_hippo
Equity market pushes downward on US Coronavirus fearsNASDAQ down 2% on Coronavirus fears Tech and consumer equities lead the charge downwards as fears that the recovery has stalled in the US emerges. The NASDAQ is down 2.33% today, with the SP500 and Dow Jones down 0.66% and 0.7%. Priced-to-perfection tech stocks, even with better than expected earnings was not able to defend the lofty prices from the risk-off rush out of the market. Fears that the US economy has stalled comes on the back of an unexpected rise in Jobless claims in the past week. Unemployment claims rose by an adjusted 109,000 to 1.4 Million, with analysts expecting 1.3 Million. However, unemployment in the US has decreased in the past couple of weeks as workers are rehired as the economy opens. However, as the US continues to grapple with the Coronavirus, many states have slowed reopening and therefore slowed rehiring. The potential stall of the economy comes at an unwanted time, as the $2 Trillion stimulus package is nearing the end of its course. Currently, Congress is trying to negotiate another trillion-dollar package as the Coronavirus continues to ravages the United States. However, some people believe that the $600 weekly government payment has disincentivized people to go back to work, skewing the numbers. University of Michigan Labor economist Don Grimes stated that “the $600 additional weekly payment may have encouraged people to stay on unemployment..” Market performance pricing in Coronavirus Risk All major American, Australian, and European Indexes are down due to Coronavirus concerns – While the NZX 50 and the KOSPI, New Zealand’s and Korea’s major stock indexes respectively, are up for the week. Furthermore, It may be interpreted as the cogs in the markets are turning back to normal, slowly pricing in risk correctly. Furthermore, we can also see this in the Oil and Gold spot market, with Gold rallying admits Oil ranging, as the Oil demand fluctuates around the world. However, the Dollar index declined with treasuries rising, showing that the initial rush to hoard the dollar is slowly evaporating. Generally, this is a good thing for investors as it means rationality in the markets is gradually coming back.
NASDAQ:NDX
by BlackBull Markets
S&P500 and everyone else is in consolidation (including Bitcoin)I have noticed a period of technical consolidation, since June, MACD is near the Signal line and RSI floats up and down of the 50 line. Although markets are trading above the 200 day MA. Several markets exhibit this same pattern, including Bitcoin . As for cryptocurrencies, most major crypto is trading above the 200 day MA but its in a period of consolidation as well right now and will be for a while until a firm breakout comes. Look for global sentiment change and institutional interest for the breakout. Otherwise trade the daily ranges. As for the markets, S&P500 TSX DOW FTSE100 CAC40 DAX NIFTY50 KOSPI and Hang Seng all trading in a narrow range. Continuing economic uncertainty and continued presence of COVID-19 has left worldwide markets uncertain and waiting for something significant to activate change. I have attached several technical charts to review and show the pattern of consolidation among worldwide markets. Leave comments if you wish, let me know your opinions! Thanks,
TVC:SPXLong
by awbest31
Nifty 50 Intraday Trade Setup for 12th may 2020Good Morning Everyone, Hope you all are doing good and made some good money in yesterday Trading session. Again Nifty failed to break their 1 week range. Yesterday We had seen a huge gap up opening but Index not sustain above then 9400 and closed on 9239.Index currently Trading in a range from last one week upper side level is 9400 and downside level is 9100. This range is most Important for today Trade setup . Index will give momentum if this range break ... Lets see what is the key factors for today Intraday and what is our technical view for today. Key Factors =============== 1- SGX looks weak and trading on 9158 which is 56 point lower then previous closing. We aspect 40-50 Gap down in Nifty 50 Index. 2-March IIP and April CPI numbers will be out on Tuesday and they may have an impact on market’s trajectory over the next few sessions. 3- Last 2 Trading session DOW is taking support from 200 EMA in hourly time frame. Index trading on 24040 which is 157 point low from the previous closing and trading again on 200 EMA. 4-Asian markets were little changed as investors await the release of Chinese inflation data expected to be out later in the day. Nikkei 225 was largely flat in early trade while South Korea’s Kospi dipped 0.38%. Meanwhile, the S&P/ASX 200 in Australia slipped 0.67% 5- Crude Oil Prices is steady and rise. 6-Chinese advisers call for talks on new trade deal with US: Report Technical View ================== Lets talk first about SGX nifty where our Nifty future trade . SGX has also made a H&S pattern in 2 hour time frame which is show weakens of the Index. Neck Line Level is 9,050 check the bellow Image. Resistance ============== Intraday Resistance is on 9400 and Key resistance is on 9,900-10,000 Support ================== Nifty Intraday support is on 9100 and key support is on 8,900 so shorter keep an eye on 9,100 for Today Trading session Tuesday 12th May Trade Setup ==================================== Buy : Only and only if Index sustain above then 9,400 Sell : Sell if Index break week range which is lower then 9,100 Disclaimer: I am not a SEBI Registered Research Analyst and all the information provided here is for educational purposes Views are shared based on market research and study and personal in nature. Others can take the different view and opinions. Good Luck and Happy Trading Virendra Pandey
NSE:NIFTY
by Virupandey81
1
EURUSD Short before Decision PointEURUSD Short before Decision Point Historic Oil Crash Monday was an historic day for the oil market: Crude crashed into negative territory for the first time ever, signaling the extreme disconnect between supply and demand as storage tanks brim to capacity and the coronavirus-led economic slowdown pushes demand to a standstill. Here’s three charts that sum up the meltdown, and here’s what negative oil really means . It’s also worth noting that the May contract in focus expires today, with the sell-off representing very short-term concerns. It rebounded back into positive territory this morning while the June contract rose above $21. Kim Jong Un’s Health The U.S. is seeking details about Kim Jong Un’s health after receiving information that the North Korean leader was in critical condition after undergoing cardiovascular surgery last week. The Trump administration wasn’t sure of Kim’s current condition, according to U.S. officials, though one said the White House was told that Kim had taken a turn for the worse. South Korea’s benchmark Kospi gauge fell on the news and U.S. and European futures are also lower. Virus Latest U.S. President Donald Trump tweeted that he’ll sign an executive order temporarily suspending immigration into the United States in order to contain the spread of the virus, though he did not offer specifics, such as the time frame or the scope of who would be affected. Infection and death rates are continuing to improve in the U.S., as they are in Europe’s hardest hit countries like Italy and the U.K. Data released on Monday showed Britain’s daily recorded deaths at a two-week low. Here’s a map showing the state of lockdowns on this continent. Clouded Earnings Picture Europe’s first-quarter earnings season is under way, and you don’t need to look far for gloom: Strategists at Goldman Sachs Group Inc. say updates are likely to to disappoint investors, even against tempered expectations. Just like in the U.S., executives here have been reluctant to give proper sales and profit forecasts under the shadow of Covid-19. Today we’ll get reports from German software giant SAP SE, consumer-goods group Danone SA, Primark owner Associated British Foods Plc and London Stock Exchange Group Plc.
by Anderson-FX
Nikkei 225 the First to Recover, Gold Facing Historical Shortage The Nikkei 225, or Japanese Stock Index had an 8% gain for the day, following on from its 7% gain from the previous day. Less than a week ago the Nikkei had just hit lows not seen since 2017, falling below 20,000 points. However in just 2 days it has made back its losses and is now rapidly on the rebound back to the 20,000 mark. As well as this, other Asian stocks are on the recovery as well, with the Hong Kong Hang Seng Index, Korean KOSPI, and Shanghai Composite all on the upside. In Europe, the UK FTSE 100 is following suit, with a 2.5% increase for the day. Following on from this, it is reasonable to expect the US stock indices to produce a similar pattern in the upcoming days. US stocks have already started to recover, with the Dow Jones posting its best single day session since 1933, rising 11.4%. This market optimism comes after the US Senate finally agreed on passing the $2 trillion coronavirus bill. The bill, which had been in dispute over the last 2 days due to being blocked by the Democrats, has now been settled with a deal being reached, although the final vote still needs to be made. Although details still need to be agreed upon as well, the gist of the bill is that $250 billion is to go towards directly paying individuals and families, $350 billion on small business loans, and $500 for other companies, amongst others. This is expected to be the largest ever economic stimulus package ever passed. The 2020 Tokyo Olympics have also been officially postponed, after several weeks of discussions. While Japan was originally adamant about the Olympics going ahead despite the alarming growth of the coronavirus pandemic, today they were finally forced to postpone the games until 2021. Japan was initially extremely reluctant to make this move, as it would’ve been the first time in the 124 year history of the modern games that they had to be postponed. Olympic officials said that the games would be postponed to a date before Summer 2021, but no later than that, and that the flame would continue to stay in Japan for the time being. In other news, gold is facing a historic short squeeze, as New York is currently under lockdown. The movement of gold has been severely impeded by the coronavirus, as metal refineries have been forced to close, and all travel has been severely restricted. Normally, in the case of such a shortage in New York, suppliers would ship from overseas locations. But the travel restrictions mean that there is the possibility that the supplies could become trapped, making banks and traders reluctant to do so. Even in other times of economic hardship such as war, gold refineries have not had to close. The price of gold, which had been on the recovery as well this week, has now fallen again, down 1.8% back towards the $1,600 mark after looking like it would reach $1,650. This move could also be attributed to investors discarding the safe haven asset after the announcement of the $2 trillion stimulus package, as risk appetite improved.
INDEX:NKY
by BlackBull Markets
1
Asian Stocks Are Sundry After Fed MeetingAsian stocks on Thursday became mixed in its morning trade following the U.S. Federal Reserve cuts its key interest rate for the second time in two meetings. Hong Kong’s Hang Seng Index dropped 1.2%. Aside from that Asian stock, traders are strictly focusing on the development of the ongoing political unrest in the city. Nancy Pelosi, a U.S. House of Representatives Speaker, held a news conference with House members overnight. And this includes Joshua Wong, Denise Ho, and other Hong Kong activists who showed support to the Hong Kong Human rights and Democracy Act of 2019. Pelosi stated, “Democrats and Republicans in the House and the Senate enthusiastically support this legislation.” And she also said that they are one with all who fights for a peaceful and hopeful future. Next week, the U.S. congressional will vote on the legislation. And this would probably include terms like annual reviews of Hong Kong’s special economic status. Also, it will have the imposition of sanctions on those who undermine their autonomy. Other Asian Stocks Then, more on Asian stocks, China’s Shanghai Composite and the Shenzhen Component advanced 0.1% and 0.3%. In addition to that, Japan’s Nikkei gained 0.5%. The Bank of Japan kept its short-term target at -0.1%. However, it stated, “it is becoming necessary” to give more attention to the potential that the momentum towards achieving its price target will be lost. Later in the day, BOJ governor Haruhiko Kuroda will provide a briefing. It noted, “The BOJ will re-examine economic and price developments at its next policy meeting when it updates the outlook for economic activity and prices.” Another part of Asian stocks, South Korea’s Kospi traded 0.3% higher. Meanwhile, Australia’s ADX rose by 0.5%. In the data, it displayed the country’s employment growing 34.7k in August, surpassing the 10k expectation. On the other hand, the unemployment rate gained 0.1% to 5.3%, similar to expectations.
NSE:ASIANPAINT
by Financebroker