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Archives by Year:
Elliott Wave Technical Analysis: Nvidia Corp. – Monday, July 15
Image Source: Unsplash NVDA Elliott Wave Analysis Trading Lounge Daily Chart,Nvidia Corp., (NVDA) Daily ChartNVDA Elliott Wave Technical AnalysisFUNCTION: Counter TrendMODE: CorrectiveSTRUCTURE: ZigZagPOSITION: Intermediate wave (A). DIRECTION: Downside in wave 3. DETAILS: We are looking at either a significant top in place in wave (5), or else we could be continuing higher, after a clear three wave move to the downside, leaving us with one more leg lower to come before upside […]
S&P 500 Reaches New Heights As Likelihood Of 2024-Q3 Rate Cut Rises
The S&P 500 (Index: SPX) reached new highs during the trading week ending on Friday, 12 July 2024. The index closed out the week at 5,615.35, some 0.9% higher than it finished the preceding week, after hitting a new all-time record high of 5,633.91 on Wednesday, 10 July 2024.The biggest market-moving story of the week came on […]
Bad News For Nvidia Bears
History Repeating Itself Or…?To start this issue, some food for thought from Oakmark’s Bill Nygren: There have been two technologies in my career that seem similar to the artificial intelligence (AI) excitement boosting tech stocks today – computers and the Internet. When I was in business school in 1980, there was so much market interest […]
Goldman Sachs Exceeds EPS Forecast With $8.62 In Q2 2024
Image Source: Unsplash The Goldman Sachs Group, Inc. (NYSE: GS) reported robust financial results for the second quarter of 2024. The company achieved net revenues of $12.73 billion, a 17% increase from the $10.89 billion reported in the second quarter of 2023. However, this figure represents a 10% decline from the first quarter of 2024, where net […]
Tether hires ex-Chainalysis economist Philip Gradwell as head of economics
Key Takeaways Philip Gradwell, former Chainalysis chief economist, joins Tether as Head of Economics. Gradwell aims to shift focus towards understanding digital assets’ use in the real economy. Tether has appointed Philip Gradwell, formerly Chief Economist at Chainalysis, as its Head of Economics. Gradwell brings over six years of expertise in analyzing digital asset use […]
The Credit Widening In The Coal Mine
Coal miners used to bring canaries into the mines to protect themselves from harmful gases. The canary will keel over if the gas levels increase, giving the miners time to exit before meeting the same fate. In the same vein, no pun intended, there is a corporate bond credit spread that can serve as an […]
Unlocking ASX Trading Success: Rio Tinto Limited – Monday, July 15
Image Source: Unsplash ASX: RIO TINTO LIMITED – RIO Elliott Wave Technical AnalysisTradingLounge (1D Chart)Greetings,Our Elliott Wave analysis today focuses on RIO TINTO LIMITED – RIO, listed on the Australian Stock Exchange (ASX).We foresee RIO potentially continuing to decline with wave 2 (grey), followed by wave 3 (grey) which may see a subsequent upward push.ASX: RIO TINTO LIMITED […]
Economic Data From China Was Below Forecasts
Image Source: Pixabay On Friday, the Dow Jones (US30) Index rose by 0.62% (for the week +1.55%), while the S&P 500 (US500) Index gained 0.55% (for the week +0.76%). The Nasdaq Technology Index (US100) closed positive 0.63% on Friday (for the week +0.14%). Stock indices rose on Friday, with the S&P 500 and Dow Jones Industrials setting new record highs. A rebound in chip company […]
Asian Stock: Sri Trang Gloves (Thailand)
Company: Sri Trang Gloves (Thailand) Public Company LimitedBloomberg ticker: STGT TBMarket cap: US$836mBackground: Sri Trang Gloves (Thailand) Public Company Limited manufactures rubber gloves, including natural latex, nitrile, and sterile and surgical. The company has 13 production facilities with a capacity of 51 billion pieces per year. STGT is majority-owned by the rubber company Sri Trang Agro-Industry PCL (STA TB). […]
Daily Market Outlook – Monday, July 15
Image Source: Pixabay After an attempted assassination, investors became more confident in Donald Trump’s chances of winning the US presidential election, leading to a rise in the Dollar and a decline in Treasury futures. The Mexican peso dropped, the dollar strengthened against other major currencies, and Bitcoin reached its highest level in nearly two weeks. Futures […]
