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…
Overview and Market Sentiment:The NASDAQ 100 futures (NQ) have been in a strong long-term uptrend, gaining 22% for one year, but the recent pullback is raising caution among traders. The daily chart shows a technical retracement after reaching an All-Time High (ATH) earlier in the summer, and now the price is testing key support levels. Read More…
Overview and Market Sentiment:Gold has been in a powerful uptrend this year, with the current chart showing the continuation of bullish momentum following a classic bull flag pattern formation. As of September 2024, Gold futures are trading at $2,528.4, up by 0.15% for the session, and showing no signs of immediate weakness. The key technical 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…
Technical Analysis: Descending Channel: The primary structure in play is a descending channel, which has kept price action constrained between roughly $75,000 and $50,815. Until Bitcoin can decisively break out of this channel, the prevailing trend remains slightly bearish in the medium term but still bullish in th belong term. Potential Support Levels: Short-Term Outlook: 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…
