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Bitcoin ends downtrend and is set to pursue $71,500, says trader

Bitcoin ends downtrend and is set to pursue $71,500, says trader

Key Takeaways Bitcoin broke June downtrend, forming new higher low on weekly timeframe Spot Bitcoin ETFs recorded $129 million in net inflows on July 1 Bitcoin (BTC) broke its June downtrend and resumed its previous uptrend in July, according to the trader identified as Rekt Capital. The goal now is to build a price foundation […]
Solana ETF applications fail to boost market enthusiasm: Kaiko

Solana ETF applications fail to boost market enthusiasm: Kaiko

Key Takeaways VanEck and 21Shares file for spot SOL ETFs, but market impact remains limited Combined BTC/ETH ETFs show improved risk profile, potentially attracting traditional investors Last week, VanEck became the first US asset manager to file for a spot Solana (SOL) exchange-traded fund (ETF), with 21Shares following suit. The news initially boosted SOL’s price […]
RBA Maintains A Hawkish Bias

RBA Maintains A Hawkish Bias

Image source: Pixabay  At Monday’s close, the Dow Jones (US30) Index added 0.13%, while the S&P 500 (US500) Index gained 0.27%. The Nasdaq Technology Index (US100) closed positive 0.83%. Strengthening large-cap tech stocks boosted the broad market on Monday. However, concerns that the economy is losing momentum could limit the potential for further stock gains.The ISM US Manufacturing Index for June unexpectedly fell […]
Elliott Wave Technical Forecast: Unlocking ASX Trading Success: Santos Limited

Elliott Wave Technical Forecast: Unlocking ASX Trading Success: Santos Limited

ASX: SANTOS LIMITED – STO Elliott Elliott Wave Technical Analysis TradingLounge (1D Chart)Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with SANTOS LIMITED – STO. We see that the STO may have completed wave ((ii))-navy at the low at 7.35, which also allows wave ((iii))-navy to be opened to push higher.ASX: SANTOS LIMITED – STO Elliott […]
Is Intel Set To Break Out Of Sideways Range?

Is Intel Set To Break Out Of Sideways Range?

Intel’s share prices have been losing out to red hot gains in Nvidia. According to Bloomberg Intel’s sales are projected to end 2024 with $20 billion less revenue than it had in 2021. This is in stark contrast to Nvidia’s sales which are set to double and AMD sales are projected to grow more than […]
Two Plus Two Still Equals Four

Two Plus Two Still Equals Four

We are contrarians and oddly crave the moments when history, psychology and mathematics get defied in the U.S. stock market. We believe this is one of those points in time.Short sellers have been obliterated, and the level of short selling is so low that it runs the risk of dropping off the charts:Simultaneously, U.S. household […]
No Turn Around Tuesday As Greenback Remains Firm

No Turn Around Tuesday As Greenback Remains Firm

Image Source: Pexels  Overview: The sharp jump in US long-term interest rates has helped lift the greenback in recent sessions and it remains firm against most of the G10 currencies today. The Canadian dollar is the best performer, and it is nearly flat. The intraday momentum indicators warn that after a mostly consolidative Asia Pacific and European […]
Median Household Income In May 2024

Median Household Income In May 2024

Motio Research’s estimate of median household income in the United States for April 2024 is $78,238. At this writing, the independent data science and economic consulting firm has not yet published an estimate for May 2024 for its Household Income index. When that new estimate becomes available, we will append it to this post.In the meantime, Political Calculations’ estimate of […]
The Commodities Feed: Oil Rises On Supply Woes

The Commodities Feed: Oil Rises On Supply Woes

Image Source: Pixabay  Oil prices have surged this morning on rising geopolitical tensions and an intensifying hurricane in the Caribbean. Meanwhile, a recent survey showed OPEC oil production was largely unchanged last month.  Energy – OPEC oil production steady in JuneThe oil market jumped to its highest level in over two months on rising geopolitical tensions […]
EUR/USD Struggles To Maintain Gains Amid Mixed Economic Signals

EUR/USD Struggles To Maintain Gains Amid Mixed Economic Signals

Image Source: Pixabay  The EUR/USD pair experienced a noticeable uptick yesterday but failed to sustain its peak, settling at 1.0732 today. Early gains were buoyed by the initial outcomes from France’s parliamentary elections, which did not reflect the worst-case scenario, sparking a temporary surge in risk appetite and bolstering the euro.However, last evening’s economic indicators from […]