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This Bear Trap Could Make Us A Fortune On Thursday

This Bear Trap Could Make Us A Fortune On Thursday

Image Source: Unsplash Woah, markets are crashing lower tonight! But if you watched last night’s video, this is exactly what we expected…This is the perfect spot to get long, and this BEAR TRAP could be our biggest winner of the week!Emini and Nasdaq are still bullish overall, but this strong move down isn’t joking around…How do […]
Walgreens Cuts Prices On 1,500 Items As Did Amazon And Target

Walgreens Cuts Prices On 1,500 Items As Did Amazon And Target

Image Source: UnsplashWhen the price cut headline hit this morning, one might have expected bond yields would drop. Instead, they continued their May trend of higher yields.Walgreens chart courtesy of Stockcharts.ComWalgreens Joins the Price Cutting ParadeCNN reports Walgreens Is Cutting Prices on 1,500 Items. Walgreens is joining other retailers in cutting prices across the board, from snacks […]
Elliott Wave Technical Analysis: Chainlink Crypto Price News For Thursday, May 30

Elliott Wave Technical Analysis: Chainlink Crypto Price News For Thursday, May 30

Image Source: PexelsElliott Wave Analysis TradingLounge Daily ChartChainLink/ U.S. dollar(LINKUSD)LINKUSD Elliott Wave Technical AnalysisFunction: Counter TrendMode: CorrectiveStructure: ZigzagPosition: Wave CDirection Next higher Degrees: Wave (I) of ImpulseWave Cancel invalid Level: 8.498Details: Wave C May be complete and the price increase again in Wave A or I.ChainLink/ U.S. dollar(LINKUSD)Trading Strategy: It looks like the correction wave (II) is over and […]
Fidelity’s Ethereum spot ETF listed on DTCC under ticker $FETH

Fidelity’s Ethereum spot ETF listed on DTCC under ticker $FETH

Fidelity’s Ethereum spot ETF has been listed on the Depository Trust and Clearing Corporation (DTCC) under the ticker symbol $FETH. This development comes on the heels of the US Securities and Exchange Commission’s (SEC) approval of spot Ethereum exchange-traded funds (ETFs) on May 23.Fidelity’s Ethereum spot ETF is now listed on DTCCBlackRock’s Ethereum fund, iShares […]
Interest Rate Fears Turn Markets Downward

Interest Rate Fears Turn Markets Downward

Image Source: UnsplashBond yields kept moving precariously higher today. This is a major reason for today’s big selloff in the equities markets, just a day removed from the Nasdaq notching another all-time closing high. But it was the Dow that took it on the chin for this session, down -411 points or -1.06%, bringing levels down […]
Gold Price Remains On The Defensive Ahead Of US GDP Data

Gold Price Remains On The Defensive Ahead Of US GDP Data

Image Source: Pixabay Gold price loses traction in Thursday’s Asian session.  The downtick of yellow metal is backed by the stronger USD and higher US yields. Gold traders await the US Q1 GDP data for fresh impetus and monitor the Middle East geopolitical risks.  Gold price (XAU/USD) trades in negative territory on Thursday, supported by the […]
Bond Battering Drags Stocks And Commodities Lower

Bond Battering Drags Stocks And Commodities Lower

Image Source: PexelsThe past few U.S. Treasury auctions have attracted weak demand, particularly from foreign buyers. That’s dragged bond prices lower and pushed yields higher.This has upset the tenuous balance the market has achieved over the past few weeks, and we’re beginning to see the likelihood of the market’s worst fears being realized: higher for longer!That […]
Asia Morning Bites For Thursday, May 30

Asia Morning Bites For Thursday, May 30

Image Source: Unsplash Global Macro and Markets   Global Markets:  US Treasury yields continued to edge higher on Wednesday. The 2Y yield rose 1.7 basis points, but the 10Y rose 6.2bp to 4.612%. With PCE inflation data on Friday, we may see yields push closer to the April 4.705% local peak today, with any subsequent movement determined […]
New Zealand Dollar Remains Calm Above 0.6100 Following NZ Budget 2024

New Zealand Dollar Remains Calm Above 0.6100 Following NZ Budget 2024

Photo by Thomas Coker on Unsplash New Zealand Dollar (NZD) remains on the defensive on Thursday after the latest NZ government budget announcement. New Zealand forecasts inflation falling to below 3% in Q3 2024, to 2% around 2026.  Investors will keep an eye out for key US data to cap off the trading week. The NZD/USD pair edges lower around  […]
Big Oil Consolidation: Chevron Acquiring Hess – ConocoPhillips Acquiring Marathon Oil

Big Oil Consolidation: Chevron Acquiring Hess – ConocoPhillips Acquiring Marathon Oil

Image Source: Nick Youngson CC BY-SA 3.0 Alpha Stock ImagesConsolidation among the oil and energy sector continues as Chevron (CVX – Free Report) will be acquiring Hess (HES – Free Report) in a deal valued at $53 billion while ConocoPhillips (COP – Free Report) is set to acquire Marathon Oil (MRO – Free Report) for $22.5 billion when including debt.This comes as crude prices are still up 10% for the […]