US equities ended the day lower on Tuesday, experiencing a significant decrease in value. This drop came after retail sales data exceeded expectations, causing concerns about the possibility of higher interest rates lingering. At the same time, major US banks faced declines due to a report indicating potential downgrades by Fitch for certain lenders. US Read More…
Recap We pick up from where we left off as RTY has continued to plunge after we suspected a potential triple top last week. The sell-off has accelerated and a likely cause of that is the volume profile point of control line. This aggressive selling could also be the result of the formation of a Read More…
The equity indexes ended higher on Monday, driven by chipmaker Nvidia’s remarkable surge. This surge was sparked by Morgan Stanley’s positive note and a boost seen in other major growth stocks. Nvidia’s stock soared by 7.1%, marking its most significant one-day rise since May 25. This surge was comparable to the 24% increase in May, Read More…
Introduction and recap The last time we looked at ES, it was in the process of a pullback toward the 50 and 100 moving averages. This retracement has been minor, with the market giving back 3.8% since the most recent top on the daily chart. ES is still only 3.8% away from all-time highs. Let’s Read More…
On Friday, currency futures dipped as the dollar rose after the US reported higher US producer prices in July. This was despite growing speculation that the Fed might finally stop raising interest rates. The Producer Price Index (PPI) went up due to a rise in service costs, causing unease among traders. The surge in the Read More…
Recap The ascending triangle formation in the Dow is still the main chart pattern that we are monitoring in this week’s analysis. Price broke out of the triangle sometime again, as shown in this article, and we have been patiently waiting for a pullback that might just be here. YM looks poised for a bounce, Read More…
