Introduction Gold Futures (GC) are still performing well in 2024, up 14.2% YTD and 22% for the past 365 days. The main observations we can look at is the huge divergence between the 50 and 200 SMA. The 200 is steadily rising so long term investments and trades point bullish. At the moment, GC is Read More…
Introduction Crude Oil Futures (CL) for the most part are trading in a consolidation phase. YTD CL is up 15%. However, the performance has been mixed, influenced by a stronger dollar and global economic concerns, such as the rebound in Russian crude exports (Barchart.com) (Barchart.com). Weekly Chart Analysis The weekly chart shows CL recently had Read More…
Introduction The S&P 500 e-mini futures (ES) have painted two bearish candles for the past two weeks trade. This was overdue as ES and other US equity markets have soared for 2024. The pullback we expect is likely to be a short-term outlook and by no means a trend reversal, so keep that in mind Read More…
Introduction Crude oil could be breaking out of a multi-year downtrend and on its way to triple digits once more. This is a big speculation but if you look at the chart below, you will see why it could be a possibility. At least, the support is very strong and even if price does not Read More…
Federal Reserve and Monetary Policy The Federal Reserve has maintained its policy rate at 5.25%-5.5%, with potential rate cuts anticipated in the latter half of 2024. This cautious stance is driven by mixed economic signals and the need to monitor inflation trends closely. While there has been some moderation in inflation, core inflation, particularly in Read More…
What is leading the underperformance? The Russell 2000 is less weighted in technology stocks compared to the S&P 500 and Nasdaq. Large-cap tech stocks have driven much of the recent market gains, benefiting indices heavily weighted in these sectors. Small-cap stocks, which dominate the Russell 2000, are more susceptible to economic uncertainties too. In contrast, Read More…
Understanding the Recent Surge in NASDAQ and US Equity Markets Over the past week, the NASDAQ and other US equity markets have surged. This rally can be attributed to favorable economic data, strong corporate earnings, historical market patterns, and legislative support. One of the primary drivers behind the market’s recent strength is the softer inflation Read More…
Introduction Crude Oil Futures (CL) dropped dramatically for five straight sessions last week. CL dropped a total of 10.5% from the high of Wednesday 5th in those five days. There was a support level at around $76 that was taken out which is likely what lead to the sharp decline but the story changed quickly. Read More…
Introduction The Dow Jones futures (YM) have lagged behind the other indices in 2024. The industrial average has still put in some good gains, up 11% for the past year but only 2.9% YTD. The S&P 500 (ES) is up 22% for the past year. Do we think its time for the Dow to catch Read More…
Introduction Bitcoins’ huge bull run in 2024 may be coming to an end as the ‘digital gold’ daily chart may be looking at a very scary triple-top formation coupled with bearish divergence. 2024 Performance BTC is up 54% YTD and 160%, looking back on one year. This has followed the traditional cycle of a bull Read More…
