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…
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…
On Thursday, gold experienced a rise of up to 0.8% in response to the data release indicating that the US consumer price index increased by a lower-than-expected 3.2% annually. US inflation (Bureau of Labor Statistics) This growth fell short of the 3.3% forecast from the Reuters poll. Still, the overall outcome has led to speculation Read More…
Introduction As the Dollar continues to be at the forefront of the news due to Fed policy, is it time for it to drop once more? DXY has lost 13% of its value since the high was made back in September of last year (See chart below). Keeping this purely technical, let’s look at a Read More…
