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Archives by Year:
Nasdaq 100 & S&P 500 Elliott Wave Update – Monday, Oct 7
Image Source: PixabayIt did take some time but eventually, it was the Volatility Trigger in the SPY that eventually triggered both the S&P 500 and the Nasdaq 100 to do what I’m looking at as the first trigger for the start of the “Risk off” trade. On an Elliott Wave basis I’m updating in more detail […]
Gold Struggles As US Yields Rise, Big Rate Cut Hopes Wane
Image Source: Pixabay Gold trades at $2,645, down 0.30%, as US 10-year Treasury yields rise to 4.026%, capping further upside. Middle East conflict escalation involving Israel, Hamas, and other groups like Houthis supports Gold amid risk-off sentiment. Market expectations of a 25 bps Fed rate cut remain high at 83.5%, while a 50 bps cut is […]
GBP/USD Finds Fresh Lows As Greenback Climbs
Photo by Colin Watts on Unsplash GBP/USD shed another 0.25% on Monday as markets tilt risk-off. Rate cut hopes continue to evaporate, and a lack of UK data keeps Cable pinned. FOMC meeting minutes, US CPI inflation, and UK GDP dot the economic landscape this week. GBP/USD sunk another one-quarter of one percent on Monday, easing into a […]
Stocks Drop On October 7, And Are Poised To Move Lower
Image Source: UnsplashThe S&P 500 fell 90 bps today, closing at 5695, bringing the zero gamma level back into focus. This area has strong support, primarily because it separates the post-FOMC gap higher from the current island we’re sitting on. If the index gaps lower today, it could create an island reversal top, initiating a move […]
Upside For The Market Was Limited
Image Source: Pixabay SPX Monitoring purposes; Sold long 9/13/24 at 5626.02= gain 2.23%; Long SPX on 9/5/24 at 5503.41.Sold SPX on 8/19/24 at 5608.25 = Gain 8.14%gain; Long SPX on 8/5/24 at 5186.33.Our Gain 1/1/23 to 12/31/23 SPX= 28.12%; SPX gain 23.38%Monitoring purposes GOLD: Long GDX on 10/9/20 at 40.78. We are up over 28% this year […]
Supreme Court clears path for US to sell $4.4 billion in seized Silk Road Bitcoin
Key Takeaways Supreme Court paves way for US to sell $4.4 billion in Silk Road Bitcoin. Battle Born loses appeal as US preps for largest seized Bitcoin auction in history. Share this article The US Supreme Court has declined to hear an appeal regarding the ownership of 69,370 Bitcoin seized from the infamous Silk Road […]
BPCL Stock Elliott Wave Technical Analysis
BPCL – BPCL (1D Chart) Elliott Wave Technical AnalysisFunction: Larger Degree Trend Higher (Intermediate Degree Orange)Mode: MotiveStructure: ImpulsePosition: Minor Wave 3Details: Minor Wav 3 Grey progressing higher within Intermediate Wave (5) Orange against 324. Alternatively, Minor Wave 5 Grey is complete and the stock has turned lower. Long traders please exercise caution.Invalidation point: 324BPCL Daily Chart Technical Analysis […]
Utilities Break As The S&P 500 Holds Its Range
Image Source: Unsplash The S&P 500 has been drifting for a few weeks in a 100-point range that has yet to be broken. Even today, S&P 500 futures (ES) finished down 0.90%… on light volume.The market as a whole has held up, but interest-rate-sensitive parts of the market are starting to break. Utilities, for instance, were […]
A Turbulent Monday For Markets
Image Source: Pexels MARKETSIn what can only be described as a turbulent Monday for markets, investors grappled with the “toxic trio”—rising inflation jitters, shifting interest rate expectations, and persistent volatility out of the Middle East. Throw in a healthy dose of skepticism surrounding Friday’s so-called blockbuster jobs report, and you’ve got a recipe for risk-off sentiment.With […]
Relationship Between Consumer Discretionary And Staples Offers Rally Potential
This is a chart that was first published by J.C. Parets, but it’s one I like to track. The relative relationship betwwen Consumer Discrationary (XLY) and Staples (XLP) entered a new dimension in 2017 when prior resistance around 2.0 was blown out of the water. Now the relationship has entered a head-and-shoulder like pattern, which […]
