Introduction The pullback in equities might be coming to an end, as ES spiked 1.6% on Tuesday. The retracement seen on the daily chart was over 6% from the local top, and the recent bullish price action gives us confidence in being able to take long positions. Let’s re-look at the inverse head and shoulders Read More…
Equities rallied on Monday, driven by gains in 3M and Goldman Sachs. Moreover, the focus was on upcoming inflation and jobs data, pivotal for insights into the Federal Reserve’s interest rate trajectory. All three leading stock indices saw increases. Investors processed recent remarks from Fed Chair Jerome Powell, suggesting the need to raise interest rates Read More…
Recap Two weeks ago, we looked at GC and the potential for price to first, fall within the support zone then bounce out of it. Gold rallied 1.57% on Wednesday, surging out of the support zone with tremendous conviction, but the question is whether we see the price testing the support zone again in the Read More…
US equities closed slightly lower on Tuesday as investors remained worried that the Federal Reserve would hold higher interest rates for an extended period. Simultaneously, bank shares experienced a decline. The financial sector dropped by 0.9%, causing the biggest drag on the S&P 500. Moreover, the S&P downgraded credit ratings for various regional US lenders, Read More…
Weekly chart The main feature we can look at on the weekly chart is the volume profile indicator. The Euro has struggled to break above the point of control line and has begun to retrace from it as it acts as resistance. Currently, 6E is trading within a high-volume node. You can see this by Read More…
Equities ended Monday higher amid gains in Nvidia. The Nasdaq closed more than 1% higher on Monday. The S&P 500 also saw gains. Nvidia’s shares surged as investors expressed optimism before its upcoming earnings report. Other technology-related stocks also experienced increases. The yield on 10-year Treasury notes reached levels last observed during the 2007 Great Read More…
