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Excuses Excuses Excuses! Possible bearish scenario for US indexThanks to everyone that has been supporting my ideas so far. I keep positive about the short position on Tesla Inc. I had mentioned earlier this week, while the look out on Apple might change (probable short). Anyway, yesterday, the S&P 500 has closed the week down 2% to close below the 200 MA. It has not only created a double top, breaking down on higb volume, but it has also been unable to break the resistance level, which might point at a dead cat bounce. So, I believe the major correction we have been waiting for since the beginning of Covid for this "overvalued" market may be starting, for one reason or the other, whether Russian threats or hedge funds and CEOs liquidating their long positions. In fact, I believe the FED might be more involved in this "crash" than we think where they are interested in actively crashing using Russian-Ukraine escalations as possible excuses, I will explain my idea later on in another post appropriately titled. However, consider that if price is able to recover and be supported above the 200 MA and break the most recent high (4585), then there may be a change of sentiment and this idea would be irrelevant. For now, I would keep short and wait for another correction. GET THE CASH READY. NOT FINANCIAL ADVICE!
UShort
by IceCreamMayDay
Gold - Running out of steam?Gold is continuing to rally on Thursday and is on course to register an eighth day of gains in the last nine. That's not bad considering markets are continuing to price in more and more rate hikes from central banks around the world this year. But perhaps that's also the problem. This isn't a gradual tightening process. It's being driven by inflation that was considered to be transitory but has continued to surprise us every month and January was no exception, with the headline rate rising to 7.5%. That's not only well above expectations and the highest for many years, it's almost four times the Fed's target rate. So while markets are continuing to price in more hikes - now up to six this year, one at almost every meeting - gold is still feeling the love as inflation-fearing traders seek safety in the traditional hedge. But can the repeated shocks continue to propel gold higher? And how long will they keep coming? Gold could feasibly remain well supported in the short-term without making staggering gains until we start to see evidence of inflation peaking, which shouldn't take long. The 4-hour chart seems to suggest that, despite gold marching higher every day, momentum has actually been waning. And today's spike on the back of the inflation data hasn't changed that. It appears to have overcome the $1,830 hurdle finally but is there enough there to see it through $1,850? We'll soon see but if that's going to happen, we could see some corrective moves first which may allow for momentum to pick up again.
OANDA:XAUUSD
by OANDA
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YLong
by SimplyShowMeTheMoney
4
Possible Tesla bottomHey Trader, please see my current idea on the Tesla Stock, where count suggests a possible bottom. This is due to the fact, that price action is currently moving in a flat correction. We already hit the first correctional target and are now off to the second one as marked on the chart. Fundamentally, Tesla has reported impressive quarterly earnings over consensus. Musk also informed that Tesla is going to focus more on the Tesla Robot and that this will be next huge project for the firm. Investors sold their shares as first reaction to this news, which in my opinion was an overreaction. As Musk said, this could be a huge possibility for the Firm since Robotics can be the market of the future. I like the fact, that Tesla is not just going to be a Car Company and I am therefore bullish on the stock. Please share your thoughts, for further information see below. This is no financial advice. RT
NASDAQ:TSLALong
by RT_Trading_
2
Pre-London Open Tuesday 06:21:14 (UTC) Tue Jan 11, 2022 Under a Biden administration plan, private insurers will have to pay for Covid-19 tests that can be bought over the counter starting Saturday. This is to make it easier for people to screen for infections and stop the spread of the Omicron variant of the virus. As of Monday, millions of people who have private health insurance can expect their insurers will pay for up to eight tests a month for each covered person. They will also be able to buy the tests at no cost through their insurance. According to the new policy, people with private insurance will not have to pay for the tests like deductibles or coinsurance, and they won't have to pay for them either. Insurance would pay for 32 tests a month for a family of four who all had the same health plan. There are a lot of people in the Biden administration who want insurance and group health plans to work with specific stores and pharmacies so people can get free over-the-counter tests without having to pay up front or submit a claim for reimbursement.
TVC:DXYShort
by SteadyTradeAI