The equity indexes ended higher on Monday, driven by chipmaker Nvidia’s remarkable surge. This surge was sparked by Morgan Stanley’s positive note and a boost seen in other major growth stocks. Nvidia’s stock soared by 7.1%, marking its most significant one-day rise since May 25. This surge was comparable to the 24% increase in May, Read More…
Introduction and recap The last time we looked at ES, it was in the process of a pullback toward the 50 and 100 moving averages. This retracement has been minor, with the market giving back 3.8% since the most recent top on the daily chart. ES is still only 3.8% away from all-time highs. Let’s Read More…
Recap The ascending triangle formation in the Dow is still the main chart pattern that we are monitoring in this week’s analysis. Price broke out of the triangle sometime again, as shown in this article, and we have been patiently waiting for a pullback that might just be here. YM looks poised for a bounce, Read More…
Introduction As the Dollar continues to be at the forefront of the news due to Fed policy, is it time for it to drop once more? DXY has lost 13% of its value since the high was made back in September of last year (See chart below). Keeping this purely technical, let’s look at a Read More…
On Tuesday, US equities ended the day in decline due to a widespread sell-off. The credit rating agency Moody’s downgraded several lenders, sparking renewed concerns about the well-being of US banks and the economy. After a five-month surge, which brought the S&P 500 and Nasdaq Composite close to their all-time highs, August has seen five Read More…
Recap The last time we looked at NQ was July 21st. Price was surging toward resistance at the all-time high of $16767. NQ dropped shortly after that article, not making another high since then. We have seen a healthy pullback of 5.7% since then, so the question arises, what is the best way to play Read More…
