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…
Overview ES has been stuck in a tight consolidation since the beginning of April. There was a steep move up just before the consolidation phase started, which leads me to believe we could be preparing for a bullish breakout. The range is between $4,062.75 and $4,210.75. The rally prior resembles a poll, so what we Read More…
Recap Two weeks ago, we looked at the candlestick that formed on the daily chart in GC, which eventually closed as a spinning top at the top of an up trend. It signals to us that there is much confusion in the market when a candlestick like this forms, and this gave us a short Read More…
