Interest futures soared on Thursday after US data revealed softer-than-expected wholesale inflation. The PPI report led to a decline in Fed rate hike expectations, sending yields lower. However, if there is no deal to end the war in Iran, oil prices will keep rising, pushing inflation higher. The bond market recovered this week as traders Read More…
NQ is coiling in a rising wedge just under 30,000 after reclaiming the August 5 low near 27,215 with a sharp multi-day bounce. Price is now pressing against the top of a consolidation range. Trade Setup Bias: Long Entry: Close above 30,074 Stop: 29,600 Target: 31,000 Invalidation A close back below 29,600 negates the setup Read More…
Oil prices traded near weekly highs as traders worried about oil supply amid the Middle East crisis. Meanwhile, experts forecast a drop in global demand this year, which could further tighten the market. Brent futures (Source: ICE, Bloomberg) Oil prices were declining last week as traders hoped for a deal to reopen the Strait of Read More…
Introduction The Dow was the one major index that did not celebrate the July inflation report. While the S&P 500 opened at a record high and the Nasdaq closed up 0.54% on August 12, the Dow settled at 53,770.27 — down 21.58 points, or 0.04%, on a day the data went its way. YM has Read More…
Follow-Up: What Played Out Since August 5 Analysis We flagged 30,000 as the level to watch in our last analysis on Nasdaq, with a close above it opening the door to 30,300 and the June highs. Price never got there. Instead, NQ spent five sessions grinding sideways beneath that number, closing at 29,794.75 — 101 Read More…
Gold closed its best week since January on Friday as Fed rate hike expectations eased. A resumption of talks in the Middle East and a downbeat nonfarm payrolls report lowered the likelihood of a rate hike in September. Market participants are now awaiting more policy cues from the US CPI report. Gold weekly performance (Source: Read More…
Equities edged higher on Tuesday, extending Friday’s rally after a poor US jobs report. At the same time, hopes for a deal to reopen the Strait of Hormuz improved risk appetite, which saw stocks end the best week since April. This week, the US CPI report due on Wednesday will continue to shape the outlook Read More…
Follow-Up: What Played Out Since August 4 Gold has done exactly what we were watching for. In our previous analysis, price was stuck at 4,118.8 in a tight range between 4,050 and 4,200, and the one thing we singled out was a quiet series of higher lows building in RSI while price went nowhere. That Read More…
Introduction A 23% win rate doesn’t sound like the formula for a $13,747 withdrawal. But for Pamela, a 29-year-old freelancer from Chile, it was. Just 14 days after receiving her first funded account with OneUp Trader, Pamela withdrew $13,747 while trading the E-mini S&P 500 (ES). What makes her performance especially interesting isn’t simply how Read More…
Currency futures remained elevated on Monday as the dollar wallowed near a two-month low after Friday’s jobs report. The US economy unexpectedly lost jobs in July, leading to a decline in Fed rate hike expectations. This week, all eyes will be on the US consumer inflation report for more cues on Fed policy. The dollar Read More…
