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US500 Long Term SELLING Trading IdeaHello Traders In This Chart GBPJPY HOURLY Forex Forecast By FOREX PLANET today GBPJPY analysis 👆 🟢This Chart includes_ (GBPJPY market update) 🟢What is The Next Opportunity on GBPJPY Market 🟢how to Enter to the Valid Entry With Assurance Profit This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts
ULong
by ForexPlanet20
US Market Technicals Ahead (7 June – 11 June 2021)Investors will keep a close eye on Thursday’s U.S. consumer price data amid concerns that rising inflation could prompt the Federal Reserve to begin pulling back on stimulus. The consumer price report for May will probably show the inflation rate rising to 4.6 percent, the highest since September 2008 and well above the Federal Reserve’s target of about 2 percent. Meme stocks look likely to continue to grip investors’ attention after a wild ride last week. Markets will also be monitoring the progress of President Joe Biden’s proposed $1.7 trillion infrastructure plan, which has already boosted the industrials and materials sectors this year, leaving many industrials and materials stocks vulnerable to a selloff if a large spending bill in Washington fails to materialize. Elsewhere, the European Central Bank (ECB) is to meet on Thursday and may discuss tapering stimulus. Here’s what you need to know to start your week. S&P500 (US Market) The benchmark index ($SPX) kicked off the 2nd half of 2021 on a positive note, gaining +0.55% (+23 points) during the week. $SPX remains less than a percentage point away from recapturing its all time high level of 4,245 level. The past two weeks of low market volatility have seen $SPX trading in a range less than 36 points, the lowest since April 2021. In the meanwhile, $SPX continues to reflect a minor bearish divergence within its falling price volatility along with daily trading volume on its up-days as highlighted since last week. The immediate support to watch for $SPX is now at 4,150, a breakdown to the lowest price level traded over the past two weeks. Inflation threat All eyes will be on the latest CPI data on Thursday, after a much stronger than expected inflation number sparked a selloff last month, as many worried rising price pressures could force the Fed to begin unwinding stimulus soon. Friday’s jobs report indicated that while jobs growth picked up from the previous month wage growth also accelerated. This could bolster the argument that higher inflation may persist rather than being transitory, as is currently viewed by the Fed. The inflation reading is one of the last major pieces of economic data ahead of the next Fed meeting on June 15-16 and Fed officials will be in their traditional blackout period during the coming week ahead of that meeting. The economic calendar also features Thursday’s figures on initial jobless claims, which fell below 400,000 in last week’s release for the first time since the start of the pandemic. Meme stock frenzy The wild ride for meme stocks looks set to continue, after AMC ($AMC) shares ended last week with gains of more than 80% despite falling more than 6% on Friday. AMC has been at the center of a fresh wave of buying by retail investors who hyped the stock in forums such as Reddit’s WallStreetBets, breathing new life into a phenomenon that began with January’s more than 1,600% gain in GameStop ($GME). AMC, which was on the brink of bankruptcy not long ago, on Thursday completed its second share offering in three days, cashing in on a nearly 400% surge in its share price since mid-May. But most analysts say that the scale of the rally is out of line with AMC’s fundamentals and high valuations on the meme stock names are unlikely to last. There are no actively managed stock funds among AMC’S 20 largest shareholders, according to Refinitiv data, leaving open the risk that a shift in retail investor opinion could quickly sink its shares. Infrastructure deal Market participants will be closely following negotiations between Democrats and Republicans in Washington over President Joe Biden’s proposed $1.7 trillion infrastructure deal. Transportation Secretary Pete Buttigieg had said the White House sees Monday – when Congress returns from a one-week break – as a critical date to see progress in talks. Expectations of government spending on infrastructure have already boosted value stocks this year, particularly the industrials and materials sectors, which have both gained around 20% since the start of the year, against a 12.5% gain for the S&P 500. Those large gains may leave many industrials and materials stocks vulnerable to a selloff if a large spending bill in Washington fails to materialize. ECB dilemma The ECB meets on Thursday and will release its updated growth forecasts for 2021 and 2022. Policymakers will debate whether to prolong their support for the euro zone recovery through emergency stimulus, a decision that will hinge on how strong they believe the region’s economic recovery is. Recent dovish comments by several ECB policymakers have highlighted the risks of premature tightening. Any indication from ECB head Christine Lagarde that the debate on tapering is getting underway could push euro zone bond yields still higher and undermine the economic recovery in the bloc.
ULong
by jfsrevg
US Market Technicals Ahead (3 May – 7 May 2021)As markets enter into the month of May, investors will turn to the US jobs report due this Friday, which will probably point to an acceleration in the labor market recovery. Appearances by Federal Reserve officials and other data, including PMIs for indications on the health of the U.S. economy will also be closely watched, as the reopening continues On the corporate front, the first-quarter earnings season continues, with reports to watch including Pfizer ($PFE), General Motors ($GM), PayPal ($PYPL), Uber ($UBER), and Berkshire Hathaway ($BRK) Here is what you need to know to start your week. S&P500 (US Market) The benchmark index ($SPX) squeezed out a gain of, +0.34% (+14.1 points), with price action remaining flat and muted as cautioned previously. The current ATR-14 range of $SPX is trading at its lowest of the year at 40 points/day, an almost 50% shave off from the Year to Date peak of 71 points per day (March 2021). With $SPX daily price action transiting into a consolidation phase at its high, along with sessional volume well remaining below its 50 days average range for the 4th consecutive week, it is worth to note that the number of US equities trading above its individual 100 Day Moving Average have declined to only 66%. At such juncture, it is of utmost importance for market participant to remain prudent with their risk exposure on the long side of the market. The immediate support to watch for $SPX remains at 4,110 level, a minor classical support level. Bumper job gains expected The U.S. economy is expected to have notched up another strong month of jobs growth in April with Friday’s nonfarm payrolls report expected to show 978,000 jobs created, after 916,000 jobs were added in March – the largest increase since last August. The unemployment rate is expected to tick down to 5.7% from 6%. Data late last week showed that economic growth accelerated in the first quarter, putting the economy on track for what is expected to be the strongest performance this year in nearly four decades. Unprecedented fiscal stimulus and easing anxiety over the pandemic, with all adult Americans now eligible for vaccination, have resulted in a faster economic rebound in the U.S. compared to the rest of the world. Earnings Earnings are rebounding from last year’s pandemic-fueled lows, with results now in from more than half of the S&P 500 companies. Dozens more companies are due to report in the coming week, with vaccine makers Pfizer ($PFE) reporting Tuesday, followed by Moderna ($MRNA) on Thursday. Travel related earnings to watch include results from Hilton Worldwide Holdings Inc ($HLT) and Caesars Entertainment ($CZR), while some consumer brands are also on the schedule, including Anheuser Busch Inbev ($ABI) and Estee Lauder ($EL). Some other notable earnings include General Motors ($GM), Uber ($UBER), ViacomCBS ($VIAC), DraftKings Inc ($DKNG) and Beyond Meat ($BYND). Earnings are raising some fresh questions in the debate over growth versus value. After a decade of steadily under-performing the overall market, value has been a favorite reopening bet and investors will be watching to see if this trend continues. Fed Chairman speaks Fed Chairman Jerome Powell is speaking on Monday, but he is not expected to offer any fresh insights on the economy during his appearance to discuss community development at an online conference hosted by the National Community Reinvestment Coalition. Last week Powell said the “time is not yet” to talk about tapering the Fed’s $120 billion monthly pace of bond buying.
U
by jfsrevg
US Market Technicals Ahead (12 Apr – 16 Apr 2021)Price volatility is expected to pick up this week. First-quarter earnings season gets underway with updates expected from major banks such as JPMorgan Chase ($JPM), Citigroup ($C) and Wells Fargo ($WFC). While results are expected to be fairly strong, most will be watching to see what companies say about the outlook for the current quarter and the rest of the year, given expectations for faster economic growth. On the economic data front, U.S. consumer price inflation (Tuesday) and retail sales (Thursday) will be the biggest data points of the week. Global financial markets will also pay close attention to comments from a Fed Chair Jerome Powell at the Economic Club of Washington on Wednesday, for additional insight into the outlook for monetary policy in the months ahead. Elsewhere, in Asia, China will become the first major economy to report first-quarter growth data when it publishes highly anticipated GDP numbers. Here is what you need to know to start your week. S&P500 (US Market) The benchmark index ($SPX) furthered its ascend with a gain of +2.12% (+85.5 points) for the week, establishing an all time high closing of 4,122 level. This was aligned with our weekly market analysis highlighted last week. It is important to note that the past week of daily incremental price action on $SPX has reflected a clear Bearish Divergence with its transactional volume. A price retracement upon a eutrophic rally beyond the structure of a technical trend channel is always imminent on such scenario. However, the hypothesis of a short term correction for $SPX would remain healthy and strong for the bullish sentiment of the index. With price volatility expected to pick up this week due to the series of major economic events, the immediate support to watch for $SPX is at 4,030 level, a trendline resistance turned support level. U.S. 1Q Earnings Season Kicks Off The first quarter earnings season on Wall Street will kick off in the coming week, with banking giants JPMorgan Chase ($JPM), Goldman Sachs ($GS), and Wells Fargo ($WFC) all set to release their latest quarterly results on Wednesday. Earnings from Bank of America ($BAC), Citigroup ($C), and Blackrock ($BLK) are then due on Thursday, followed by Morgan Stanley ($MS) on Friday. Overall, Q1 earnings are expected to have jumped nearly 25% year-over-year, according to Refinitiv. That would be the biggest quarterly gain since 3Q 2018, when tax cuts under former President Donald Trump drove a surge in profit growth. Financials are expected to show one of the biggest earnings gains, up 75.6% year-on-year, while materials are seen up 45.4%. U.S. Consumer Price Inflation (CPI) CPI is expected to have risen 0.5% last month and 2.5% over the prior year, according to estimates. If confirmed, it would mark the fastest increase in eight months. Excluding the cost of food and fuel, core inflation is projected to climb 0.2% from a month earlier and 1.6% on a year-over-year basis, a tad faster than the 1.3% increase registered in February. Rising inflation expectations helped spark a first-quarter selloff in Treasuries that drove yields to pre-pandemic highs in recent sessions. U.S. Retail Sales The consensus forecast is that the report will show retail sales jumped 5.5%, rebounding from February’s steep decline of 3%, which was the biggest drop since April 2020. Excluding the automobile sector, sales are expected to rise 4.8%, snapping back from a drop of 2.7% in the preceding month. Fed Speakers A number of Fed speeches will get market attention in the week ahead, as traders watch for further clues on interest rates. Topping the agenda will be remarks from Fed Chair Jerome Powell who will be speaking on Wednesday at an Economic Club of Washington event. The Fed chair has reiterated lately that any emergence of inflation should be temporary and that the central bank will keep its accommodative policies in place for a long time. China 1Q Gross Domestic Product (GDP) China will post its first quarter gross domestic product (GDP) on Friday morning. The data is expected to show the world’s second-largest economy grew 18.8% in the first three months of 2021 when compared to the year-ago period, accelerating from the previous quarter’s 6.5% pace. Besides the GDP report, the Asian nation will also publish data on March trade balance, industrial production, retail sales, unemployment, and fixed asset investment. China’s economy has shown signs of improvement in recent months, with activity rebounding to pre-pandemic levels thanks to a resurgence in global manufacturing and a sharp recovery in domestic spending.
UShort
by jfsrevg
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