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Continuing Claims Rising Rapidly
Although much of the morning’s data topped expectations, one of the areas of weakness was jobless claims. Initial jobless claims were slightly higher than expected coming in at 210K versus expectations of 208K. Additionally, last week’s sub-200K print was revised up to 200K. While that doesn’t steal from the fact that jobless claims have pulled […]
Nasdaq Down Triple Digits After #Meta #Earnings
Stocks are firmly lower this afternoon, with the Dow Jones Industrial Average (DJI) and Nasdaq Composite (IXIC) sporting triple-digit deficits, as Meta Platforms (META) stock’s post-earnings slide pushes the latter deeper into the red. There was a slew of economic indicators to unpack this morning, including a gross domestic product (GDP)reading. Meanwhile, bond yields are slipping, […]
ECB: A Dovish Pause Now, A Peak Soon
Image Source: Pixabay After 10 consecutive hikes, the ECB’s decision to leave policy rates unchanged should have been an easy one. The deposit rate remains at 4% and the ECB has increased rates by a total of 450bp since July last year. Comments by ECB President Christine Lagarde during the press conference didn’t give away any […]
Key Levels In Gold Into November
Gold touched $2000/oz resistance last Friday but has so far held most of its gains in a bullish fashion. It closed Wednesday at $1995/oz. Next Tuesday marks the monthly close.The monthly candle chart of Gold is below, with the resistance line at $2000. Gold has tested $2000/oz in seven of the past eight months.After many tests […]
U.S. Real GDP Rose The Fastest Since Q1 2022; Should You Buy The Dollar?
Image Source: Pexels Next week, the Federal Reserve of the United States (Fed) will announce its interest rate decision. Based on the last hints given by its Chair, Jerome Powell, and other FOMC members, the Fed will likely be on hold.But one should not be surprised to see a hawkish tone from the Fed. That is especially true […]
Ford Gains In Premarket After Deal Negotiated To End UAW Strike
Shares of Ford Motor climbed 2.7% in Thursday premarket trading after the company reached a ‘tentative agreement’ with UAW workers.Ford reached an understanding today with its employees represented by the United Auto Workers (UAW), marking a “historic victory” for the US labor union. Shares of Ford (F) rose 2.77% ahead of Thursday’s market opening bell. However, the gains […]
Jobless Claims Continue Near Expansion Lows
Jobless claims continued very low last week, justifying taking down the “yellow caution flag” that had been in place for a number of months.Specifically, weekly new claims rose 10,000 to 210,000 – still a very low historical number. The more important four-week moving average increased 1,250 to 207,500. Contrarilyk with a one-week lag, continuing claims […]
Wednesday’s Selling Pushed The Market To The Brink, And Maybe Past It
How does the old saying go? If you play with fire long enough, you’ll eventually get burned? Well, for several days now stocks have been playing with fire. On Wednesday they got burned. They were burned badly enough, in fact, that the market might be forced to move all the way through a full-blown correction.That’s […]
Gold Technical Analysis: Bulls’ Eyes Are Turning Towards The 2000$ Peak Again
Buy gold above the psychological resistance of 2000 dollars per ounce with caution and without risk for near-term goals. The continuation of global geopolitical tensions and the easing of the hawkish policies of the world’s central banks has allowed the price of gold XAU/USD to continue its upward path with gains reaching the resistance level of 1990 […]
Elliott Wave Technical Analysis LINKUSD – Thursday, October 26
Elliott Wave Analysis TradingLounge Daily Chart, 26 October 23 Chanlink/U.S. dollar(LINKUSD) LINKUSD Elliott Wave Technical Analysis Function: Follow Trend Mode: Motive Structure: Impulse Position: Wave ((3)) Direction Next higher Degrees: Wave I of Impulse Wave Cancel invalid Level: 8.259 Details: Wave 3 equal to 200.00% of Wave 1 at 12.719Chanlink/U.S. dollar(LINKUSD)Trading Strategy: Chainlink Rises Rapidly […]
