ES has pulled back from its fresh all-time high at 7,838 to retest 7,720 – the prior ATH as support. RSI is holding above the 50 midline at 55.73, keeping the broader uptrend structure intact. Trade Setup Bias: Long Entry: Close green for August 19 session Stop: 7,595 Target 1: 7,838 Target 2: Continuation above Read More…
Gold prices fell on Tuesday as yields gained amid rising tensions in the Middle East. Progress towards a deal has stalled, with Iran saying the Strait of Hormuz will remain closed. As a result, oil prices rose, rekindling inflation worries and increasing chances of a Fed rate hike in September. Gold (Source: Bloomberg) Bullion has Read More…
Introduction When we covered the metal on August 11, price sat at 4,432 after a 7.6% run, and the setup was straightforward: a close above 4,500 opened the 4,600 cluster, while a rejection there followed by a close below 4,415.8 set up a pullback toward 4,300. Price reached roughly 4,495, turned five points short of Read More…
Introduction Of the three index’s we have covered this month, ES has been the least dramatic. Nasdaq spent a week coiled beneath 30,000 waiting on inflation data, and the Dow built a rising wedge with momentum quietly failing to confirm its highs. The S&P has done neither. It ran roughly 450 points off its early-August Read More…
US equities remain on a weaker footing after a strong rally pushed major indexes to record levels. The S&P 500 closed Monday at 7,745.06, down 0.5%, while the Nasdaq Composite slipped 0.3% to 26,644.91. The Dow Jones Industrial Average also fell 0.5%. Despite the pullback, Wall Street remains close to historical highs. The recent rally Read More…
Follow-Up: What Played Out Since August 6 The caution we attached to crude on August 6 turned out to be the part that mattered. We flagged the 74.57–77.00 shelf as the zone to watch and noted that the Iran-Oman shipping agreement driving the sell-off was not finalized and could still swing either way. It swung. Read More…
