US Equities had a mixed finish on Monday as the Nasdaq benefited from gains in Alphabet and Meta Platforms, while the S&P 500 remained nearly unchanged. Investors chose not to make significant bets as they awaited fresh talks about raising the US debt ceiling. US President Joe Biden and top congressional Republican Kevin McCarthy scheduled Read More…
Is the bull market back? NQ dropped over 37% from its peak back in November of 2021 to its low made in October of 2022. This, by definition, is enough to confirm a bear market. In order for us to confirm the new bull market, we need to see prices rally and remain above 20% Read More…
Trade update from previous analysis On May 2nd, we looked at a potential short trade in ZB. It has played out nicely, with the target very close to being hit. Take a look at the article here. There is an ascending triangle forming on the daily chart that we can monitor as price moves toward the Read More…
Technical analysis If we look at the daily chart, there has been an ascending triangle forming since the start of the year. What this tells us that there is a generally higher demand for the asset, and thus buyers scoop up any dips as the chart shows higher lows. The horizontal resistance at the top Read More…
US equities ended lower on Tuesday due to Home Depot’s disappointing forecast and weaker consumer spending indicated by April’s US retail sales data. There were also uncertainties surrounding interest rates and debt limit negotiations. Home Depot’s annual sales forecast reduction and larger-than-anticipated profit decline caused its shares to drop by 2.15%. This drop significantly affected Read More…
US equities closed slightly higher on Monday as the S&P 500 and Dow had modest gains. However, the New York Federal Reserve’s “Empire State” index, which measures manufacturing activity, fell sharply to -31.8 in May, much lower than the anticipated -3.75. This raised concerns about a possible slowdown in the US economy, which could decrease Read More…
