Fearing The CPI
S&P 500 tried opening on a strong note, but just as Friday it fell through my high 6,080s support. Is this a cancellation of Santa Claus rally? I don‘t think so, I take it as cautious positioning for upcoming inflation data as is apparent from the put-to-call ratio chart presented at the end of this […]
Gold Analysis: Stable Bullish Prices
With a gain of $50 an ounce of gold, prices moved at the beginning of this week’s trading with strong momentum from the increasing geopolitical tensions in the Middle East. Yesterday, the gold price index jumped to the resistance level of $2,676 per ounce before stabilizing around $2,658 per ounce at the beginning of trading […]
Stocks: The Correction Has Arrived – What Lies Ahead?
Was yesterday’s pullback a sign of a downward reversal, or merely a correction within the uptrend?Stock prices pulled back on Monday, with the S&P 500 index closing 0.61% lower following profit-taking after Friday’s employment data. The market retraced some of its recent gains, closing the daily gap from last Wednesday. This morning, the S&P 500 […]
EUR/USD Forex Signal: Inverse Head And Shoulders Pattern Forms
Bullish View Buy the EUR/USD pair and set a take-profit at 1.0670. Add a stop-loss at 1.0500. Timeline: 1-2 days. Bearish View Set a sell-stop at 1.0560 and a take-profit at 1.0500. Add a stop-loss at 1.0670. The EUR/USD exchange rate remained in a tight range ahead of the upcoming European Central Bank (ECB) decision […]
Elliott Wave Technical Analysis – Fortinet Inc. – Tuesday, Dec. 10
FTNT Elliott Wave Analysis Trading LoungeFortinet Inc., (FTNT) Daily ChartFTNT Elliott Wave Technical AnalysisFUNCTION: TrendMODE: ImpulsiveSTRUCTURE: MotivePOSITION: Wave (3).DIRECTION: Upside within wave 5 of (5).DETAILS: We are looking for a bottom in wave 4 as we have approached TradingLevel1 a 100$.Fortinet Inc., (FTNT) 1H ChartFTNT Elliott Wave Technical AnalysisFUNCTION: TrendMODE: ImpulsiveSTRUCTURE: MotivePOSITION: Wave {c} of 4.DIRECTION: Bottom in wave {c}.DETAILS: Looking for […]
The GOP’s 2025 Budget Reconciliation Fight, Go Small Or Big Bang?
Image source: Pixabay Republicans have two shots at budget reconciliation bills in 2025. What should those bills include?The problem for Republicans is primarily the House, not the Senate.Republicans have a 220-215 edge but Gaetz resigned and two reps have been nominated by Trump for appointments.Until there are special elections for replacement (two in Florida and one […]
Dovish Hold Sends The Aussie Lower
Image Source: Pixabay Overview: The US dollar is little changed against most of the G10 currencies today. The antipodean currencies are the main exception. A modest change in tone from the Reserve Bank of Australia, boosting the chances of a rate cut early next year sent the Australian dollar back toward yesterday’s lows, and the New Zealand […]
Oil Prices Slip As Syria Tensions Ease, But OPEC+ Cuts Keep Support In Place
Oil prices eased on Tuesday as concerns over escalating tensions in Syria subsided. China’s demand for oil may rise as government may adopt a lose monetary policy, which is a first in years. Investors will be focusing on the policy meeting of the US Fed next week as lower rates benefit oil demand. Crude oil […]
Bitcoin Sees First Close Above $100,000, But Is A Big Correction Coming?
Bitcoin (BTC) closed the week above the $100,000 mark for the first time in history, concluding the crypto’s massive week with another milestone. However, a market watcher has warned investors that historical patterns could soon lead the flagship crypto to a big correction. Bitcoin First Weekly Close Above $100,000Bitcoin hit the $100,000 milestone nearly a […]
Copper Forecast: Continues To Look Like A Value Trade
That is if you follow moving averages. Demand for copper is what I choose to follow and inflation, inflation looks like it’s ticking up. So, it’ll be interesting to see what that does with copper pricing. Also, you have to keep an eye on demand out of China because there is talk about more stimulus. […]
