Equities ended at record highs on Monday despite a hawkish speech from Powell that led to a drop in rate cut expectations. At the same time, market participants were gearingequ up for a new quarter and week packed with critical US economic data. Last week, equities had risen on Friday after US inflation data revealed Read More…
Introduction The technical analysis we did a few days ago for ES has now been confirmed, and we are looking like the next upside rally is here. The daily chart confirmed the breakout with a strong bullish close above the previous high, and as long as prices remain above that, bulls should have the upper hand. Read More…
Equities had a mixed day on Monday. Major tech stocks dragged the Nasdaq lower, while the S&P 500 and the Nasdaq gained ahead of an anticipated rate cut at the FOMC meeting on Wednesday. Tech stocks performance (Source: Bloomberg) Apple shares dropped by 2.7% after an analyst noted that demand for the iPhone 16 models Read More…
Equities rose 1% on Monday, recovering from last week’s plunge ahead of crucial US inflation data. Investors sold stocks the previous week due to fears about the economy after a set of poor reports. S&P 500 weekly change (Source: Bloomberg) Notably, the manufacturing and labor sectors showed weakness, creating economic uncertainty. However, by Monday, calm Read More…
Current Overview and Market Sentiment:The S&P 500 futures chart is showing signs of exhaustion after an impressive rally over the past two years. As we approach September 2024, the market is showing clear indications of bearish divergence, warning us of a possible trend reversal or significant correction in the coming weeks. Price Action: The S&P Read More…
Introduction Meet Obafemi, a futures trader from San Jose, California, who successfully completed his OneUp Trader evaluation using a momentum trading strategy. Let’s learn more about this trader’s style, routine and why he chose the OneUp Trader funded trader program. Trading Approach Obafemi’s trading approach can be defined as momentum-driven. He identifies the market’s direction Read More…
