Introduction:The Russell 2000 Index (RTY), which tracks small-cap U.S. stocks, has been underperforming relative to the broader equity indices like the Nasdaq 100 (NQ) and S&P 500 (ES), despite a modest year-to-date (YTD) gain of 5%. In comparison, the Nasdaq is up 14.3%, and the S&P 500 is up 16.8% YTD. This underperformance in small-cap Read More…
Overview of the U.S. Dollar Index (DXY):The U.S. Dollar Index (DXY) is currently trading around 101.724, showing a recent bounce from a key support level. The DXY has been in a broad descending wedge pattern, which is generally considered a bullish continuation pattern. The bounce from 100.8 to 101.724 is significant, as it coincides with Read More…
Overview and Market Sentiment:Japanese Yen futures have been in a strong upward move since June 2024, but there are signs of potential exhaustion, with the formation of a double top near the 0.0071010 level. The double top pattern, combined with bearish divergence and the volume profile, sets us up for a potential short opportunity with 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…
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…
