Can you imagine the pain?
After all have rotated out of NDX - the NDX to rip higher - confirming it was forming a reverse head and shoulders?
It will be a sight !
Gold dropping below the 20d MA - seems ready to test the 1675 lows again.
If it can bounce off these lows then we can start talking about a potential trend reversal
As CD Project $7CD.DE new game cyberpunk makes record sales, the stock price has taken a beating due to bugs in the initial version of the game. The stock has all the potential to recover from the slump as sales overwhelm.
According to gaming site IGN Cyberpunk 2077 sold over 10.2 million digital copies, according to Superdata, which makes it the best-selling...
As demand side economics attempts to take over the over the world - commodities should stand to benefit.
#Cocoa is breaking above its declining resistance line and we are entering longs at current levels targeting the previous period high at 2800.
Work stops at 2440 initially.
#cc1
The #DXY is appearing to be starting a counter trend move and should the move continue, 92 is the big level to watch. Due to the negative correlation with USD strength, risk assets and especially equities are unlikely to perform as the move unfolds.
Bitcoin has been taking a pause lately, consolidating its huge gains and shaking off weak hands. We need a few more days of ups and downs before the next leg manifests itself, but since this is likely a continuation pattern, the next leg should be higher.
It appears that my short term 27750 level was too timid, and Nikkei powered through the area like butter. The move in the index points to underlying strength and should see continuation higher. I am therefore updating my short term target to 28900 - this being the 1st Fibonacci projection level from the February March selloff. Stay long!
I will not say that I can know the exact level, but I think we are close to the point where the rising yields will trigger an equity correction.
The line in the sand in my view is 1.25% but it doesn't have to be a particular level.
All that matter is the trend.
Once rising yields start spilling over to lower rated corporate credit the equity selloff will...
Hanging man top formation in spx should start a consolidation/correction move for the index as we approach the end of the week and into the next one.
The area around the 20 day MA (3720) should act as support.
After more than doubling from its previous high and reaching 41k, bitcoin is testing the hands of its believers by plunging almost 20%. Although such moves for bitcoin are not uncommon, increased swings are subtracting points from the store of value narrative that we have had recently.
It will be interesting to see at what level fresh buyers step in and hat...
Bitcoin briefly touched the 40k level yesterday and sold off almost 3k lower - but the dip didn't last long! It was immediately bought! This pricing pattern point to underlying strength and is bullish. Next major level for #bitcoin once 40k is hurdled is 46k area. Stay long
After a series of volatile up and down sessions, Dax has managed to post a clear break above the 13800 level, making a new all time high. Expect the 13800 to now act as support in case of retracement. The move higher should target the 14700 area.
Nikkei broke above key 27490 level on the last session of the year but then went ahead to make 4 daily lower closes to retest the 27k area. Today was confirmation that 27k has indeed held and the index moved briefly to new 30 year highs. I expect continuation higher as investors gradually realise that Japan is back and that the market is bullish . Next short term...
Gold consolidation period seems to be coming to an end a major move is coming in either way. On a break down bears would be targeting the 1800 level where last leg of the up move started (also the 200d EMA), while on a break up bulls would be targeting the previous high.
