Bullish view Buy the BTC/USD pair and set a take-profit at 60,000. Add a stop-loss at 54,000. Timeline: 1-2 days. Bearish view Sell the BTC/USD pair and set a take-profit at 54,000. Add a stop-loss at 60,000. The BTC/USD pair remained in a tight range as the financial market reacted to the latest consumer inflation data. Bitcoin was trading at $57,580, higher than Wednesday’s low of $55,485. It was also higher than last Friday’s low of $52,565.Bitcoin has had a few catalysts in the past few days. Data shows that the amount of coins in exchanges has dropped to the lowest level in years. This means that many holders have a long-term a...
Munnelly’s Macro Minute…”Inflation Data Leads To Market Whipsaw, ECB On Deck Next ”On Wednesday, US stocks experienced a significant decline at the outset of the trading session; however, a vicious short squeeze led to a V-shaped recovery intraday. The Nasdaq drove the recovery, as all major US averages concluded the day in positive territory. The Nasdaq soared by 2.2% after falling by as much as 1.4% in early trading. The S&P 500 increased 1.1%, while the Dow rose by 0.3% after reaching its lowest intraday level in nearly a month.Asian markets are primarily trading higher on Thursday, as traders respond to a critical US infl...
Elliott Wave Analysis TradingLounge Daily Chart,NEO / U.S. dollar(NEOUSD)NEOUSD Elliott Wave Technical AnalysisFunction: Counter TrendMode: CorrectiveStructure: Double CorrectivePosition: Wave YDirection Next higher Degrees: Wave (II) of ImpulseWave Cancel invalid Level: 9.85Details: Wave (II) is likely to have ended and prices are resuming the uptrend.?NEO / U.S. dollar(NEOUSD)Trading Strategy:It looks like the wave (II) correction is complete and the price is still likely to move up. Look for an opportunity to join the wave (III) uptrend.NEO / U.S. dollar(NEOUSD)Technical Indicators: The price is below the MA200 indicating a downtrend, Th...
Image Source: PixabayIn this video, Ira Epstein reviews the day’s trading in the gold and other relevant metal markets.Video Length: 00:09:52More By This Author:Financial Markets Report For Wednesday, Sept 11Financial Markets Report For Tuesday, Sept 10Metal Markets Report For Monday, Sept 9...
Image Source: PixabayTM Editors’ note: This article discusses a penny stock and/or microcap. Such stocks are easily manipulated; do your own careful due diligence.Kingfisher (KGFHY) is a home improvement company with over 1,570 stores in eight countries across Europe. The company operates several retail banners that are focused on trade customers and general do-it-yourself needs.Kingfisher’s main retail brands include B&Q, Screwfix, and TradePoint in the United Kingdom and Castorama and Brico Depot in France. The U.K. and France are Kingfisher’s largest markets, accounting for 81% of sales.The company is the second-largest DIY ...
Image Source: PexelsArticle today on whether it matters if dis-inversion occurs because short rates fall, or long rates rise. Two years ago, the inversion of the yield curve—shorter-dated Treasurys yielding more than longer-dated bonds—was taken by investors as a surefire sign of recession. Now Wall Street worriers have a new concern: The yield curve is back to normal, a surefire sign of recession. Here’s a decomposition of the 10yr-2yr term spread (2s10s) change since the beginning of June:Figure 1: Change since June 1, 2024 in 10yr-2yr term spread (bold black), contribution to change from 10 year yield (blue bars), from 2 year yie...
Image Source: Unsplash Global Macro and Markets Global Markets: A disappointing set of inflation data from the US yesterday hasn’t dampened rate cut spirits too much, and the market is still pricing in 4+ cuts by the end of this year, pushing back the jumbo cuts to November and December. An additional 25bp on top of the first 25bp in September is just 17.5% priced in currently. 2Y Treasury yields rose a fairly modest 4.7 basis points, while the 10Y yield rose just 1.1bp to 3.653%. EURUSD is down slightly, at 1.1011, erasing its gains earlier in the day and a bit more ahead of today’s ECB meeting. Markets seemed to award the Harri...
Image Source: Pixabay Estimates for 2024 Q3 have come down since the start of the period, with the magnitude of estimate cuts significantly bigger than what we had seen in the comparable periods of the year’s first two quarters. This negative shift in the revisions trend reverses the prior favorable development on this front in recent quarters. Total S&P 500 earnings are currently expected to be up +3.9% from the same period last year on +4.6% higher revenues. Estimates have steadily come down since the start of the period, with the current +3.9% growth pace down from +6.9% at the start of July. For the Technology sector, Q3 is e...
Image Source: PexelsConfirmation that the Fed will cut rates by 25 basis points.So of course, stocks took off like a shot – just kidding. They didn’t. They tanked steadily until just before lunchtime… then they took off in a 2% reversal rally.That sounds great, but there’s more going on here than meets the eye. I’ll walk you through – what you can expect and how to get in position right now.Come on in…Video Length: 00:08:41More By This Author:The S&P 500 Surges As “Shiny Objects” Distract InvestorsThe Market Just Got Serious – Here’s What To Do The Yield Curve Has Steepened Again – Now What?...
Image Source: PixabayIn this video, Ira Epstein reviews the activity in the Financial Markets after the day that just ended, Wednesday, September 11.Video Length: 00:12:20More By This Author:Financial Markets Report For Tuesday, Sept 10Metal Markets Report For Monday, Sept 9Financial Markets Report For Monday, Sept 9...