Category Archive: Cryptocurrency, No picture
Ethereum ETF approval sees minor decline in broader market, $400M in liquidations
After the dust settled on the craze around the SEC’s approval of Ethereum ETFs, the crypto market saw high levels of volatility. Data from CoinGecko shows that the top 20 digital assets (by market cap, excluding stablecoins) saw losses of roughly 3% each. Broadly, Bitcoin (BTC) and Ethereum (ETH) saw declines of 3.4% and 3.5%, […]
Pendulum Swings Back To Hawkish Fed Pricing
The big story in the second half of the week has been a run of US calendar events that have fueled a hawkish repricing of Fed rate cut bets. The combination of the hawkish Fed Minutes, stronger jobless claims data, and robust PMIs have all resulted in the market getting back to pricing closer to […]
USD/CAD Falls Toward 1.3700 As US Dollar Offers Gains Ahead Of Economic Data
USD/CAD halts its four-day winning streak, trading around 1.3720 during the European session on Friday. However, the US Dollar (USD) advanced against the Canadian Dollar (CAD) during the earlier hours of the Asian market due to the emergence of the risk aversion sentiment. This could be attributed to the higher-than-expected Purchasing Managers Index (PMI) data released on Thursday from […]
Elliott Wave Technical Analysis: Australian Dollar/U.S.Dollar Forex
Image Source: UnsplashAUDUSD Elliott Wave Analysis Trading Lounge Day ChartAustralian Dollar/U.S.Dollar (AUDUSD) Day ChartAUDUSD Elliott Wave Technical AnalysisFUNCTION: TrendMODE: correctiveSTRUCTURE: blue wave 2POSITION: black wave 3DIRECTION NEXT HIGHER DEGREES: blue wave 2DETAILS: Blue Wave 1 is looking completed at 0.67165. Now blue wave 2 of 3 is in play.Wave Cancel invalid level: 0.63628The AUDUSD Elliott Wave analysis on the day […]
WMT, TGT, COST: What Retail Sector News And Moves Say About Consumer Spending
Image Source: UnsplashI was at a dinner party recently and was seated next to a plastic surgeon. During our conversation, he said this is the first time he has seen a downswing in his business and attributed it to the impact of inflation and reduced spending power. Walmart Inc.’s sudden success in attracting more affluent customers to its stores […]
Elliott Wave Technical Analysis: ChainLink Crypto Price News For Friday, May 24
Image Source: PexelsElliott Wave Analysis TradingLounge Daily Chart ChainLink/ U.S. dollar(LINKUSD) LINKUSD Elliott Wave Technical Analysis Function: Counter Trend Mode: Corrective Structure: Zigzag Position: Wave C Direction Next higher Degrees: Wave (I) of Impulse Wave Cancel invalid Level: 8.498 Details: Wave C May be complete and the price increase again in Wave A or I.ChainLink/ U.S. […]
Elliott Wave Analysis On Tesla Suggests A Double Correction
Image Source: PexelsShort Term Elliott Wave in Tesla (TSLA) suggests the rally from 4.22.2024 low is in progress as an impulse. Up from 4.22.2024 low, wave (1) ended at 198.90 as the 45-minute chart below shows. Wave (2) pullback is currently in progress. The internal subdivision of wave (2) takes the form of a double three Elliott […]
Australian Dollar Extends Losses Due To Risk Aversion After Stronger US PMI
Image Source: Unsplash The Australian Dollar continues to lose ground after the release of higher-than-expected US PMI data. Australian equities faced pressure due to the lower commodity prices amid hawkish sentiment surrounding the Fed. US Dollar gained ground after FOMC Minutes suggested a lack of progress on inflation. The Australian Dollar (AUD) continues its losing streak […]
Stocks See Big Swings Now That Rate Hikes Have A Pulse Again
Image Source: UnsplashStocks moved sharply lower today after opening sharply higher. It was, as expected, a reasonably volatile day, with many surprise turns, given that Nvidia (NVDA) was up nearly 10%, and the S&P 500 finished lower by around 75 bps. There was a 1.4% reversal in the S&P 500 overall intraday, while the Nasdaq 100 […]
Nasdaq 100 & S&P 500 Elliott Wave Update – Thu, May 23
Image Source: UnsplashBoth the NQ and the ES reached new ATH’s on the opening today with those highs being the completion points for the current 3rd waves within the ongoing sequences up. The sell-off that ensued I am tracking as the expected 4th waves with the ongoing 5 waves up sequences. I updated the labeling and […]
