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Technical Analysis – JP225 cash index bulls’ appetite dented by external factors

Posted on October 17, 2023 at 7:12 am GMT

JP225 cash index hovers below the 50-day SMA Geopolitical developments continue to affect sentiment Momentum indicators on the fence at this juncture The JP225 cash index is trading higher today with the bulls interested in canceling out last Friday’s sizable red candle. It has been a strong short-term upleg from the October 4 low at 30,273, but the bulls need a new peak, above the September 15 high at 33,649, in order to stop the developing bearish pattern of lower [..]

Bank Q3 earnings could ring recession alarm bells – Stock Market

Posted on October 12, 2023 at 12:48 pm GMT

US banks kick of earnings parade on Friday before market opens Poised for negative results as high interest rates become a headwind Historical low valuations cap downside Banks underperform in 2023 This year started with the best possible omens for banks as they were expected to continue capitalising on higher net interest margins, which are essentially the difference between the interest income generated by long-term assets such as loans and the interest expense paid to short-term liabilities such as deposits. Meanwhile, [..]

Technical Analysis – US 100 cash index close to a key trendline

Posted on October 12, 2023 at 7:40 am GMT

US 100 cash index continues its strong short-term upleg Strong reaction higher amidst challenging market environment Momentum indicators mostly point to a continuation of the current move The US 100 cash index is in the green again today, recording its fifth consecutive positive session. It has been aggressively moving higher from September lows with the US 100 index now trading a tad below the key July 19, 2023 descending trendline. The bulls need a new higher high, above the September 1 peak [..]

Can Tesla’s earnings overshadow valuation risks? – Stock Markets

Posted on October 11, 2023 at 8:13 am GMT

Tesla expected to report sharp decline in earnings for Q3 Valuation is still stretched, leaving stock price vulnerable Earnings to be released after market close on October 18 Tesla slashes prices For most of this year, Tesla has been cutting the price of its vehicles in an attempt to stimulate demand. The company also slashed the price of its premium driver assistance software for similar reasons. Demand for Tesla cars has struggled amid growing competition from Chinese producers, who [..]

Technical Analysis – US 500 cash index digests developments

Posted on October 9, 2023 at 12:41 pm GMT

The US 500 cash index jumped decisively higher on Friday The index bounced off the October 13, 2022 trendline The momentum indicators could be close to supporting a reversal The US 500 cash index is trading sideways today, a much quieter session amidst the Columbus Day holiday. Market participants have the chance to digest Friday’s performance, when the US 500 index managed to successfully bounce off the long-term October 13, 2022 ascending trendline, and developments elsewhere. The focus has understandably [..]

Will Q3 earnings season halt the retreat in stocks? – Stock Markets

Posted on October 6, 2023 at 7:40 am GMT

Earnings parade unofficially starts next week as stocks undergo a downside correction A 0.1% annual earnings drop projected for the S&P 500, forecasts revised higher Surging Treasury yields bite stocks, raging dollar an additional headwind US indices retreat as investors face ‘higher for longer’ reality In the third quarter, US stocks gave back some of their impressive 2023 gains as markets started bracing for a protracted period of high interest rates. As a result, US Treasury yields have been on the rise across the board, with [..]

Are stock markets still overvalued? – Special Report

Posted on October 5, 2023 at 9:29 am GMT

Stock markets have retreated lately, as bond yields stormed higher But equity valuations are still stretched and earnings growth is stagnant Sky-high yields and global slowdown could keep markets under pressure Stocks drop as yields soar The phenomenal rally on Wall Street lost some steam in the third quarter, mostly because of the seismic moves in bond markets. Yields on US government bonds have risen to their highest levels since the financial crisis, boosted by bets that interest rates will [..]

Technical Analysis – US 30 cash index takes a much-needed breather

Posted on October 5, 2023 at 6:51 am GMT

US 30 cash index edges higher, a tad above the May 25 low The short-term bearish trend remains dominant Momentum indicators don’t point to a reversal yet The US 30 cash index is trying to record the second consecutive green candle since it managed to bounce off the 50% Fibonacci retracement of the January 5, 2022 – October 3, 2022 downtrend. The bulls are desperately trying to set up their defense following the aggressive sell-off since the July 27 high, but the bearish [..]

Technical Analysis – Nvidia stock gets rejected at 50-day SMA

Posted on October 4, 2023 at 9:48 am GMT

Nvidia pulls back from its 2023 high before attempting a rebound Latest recovery held down by 50-day SMA and Ichimoku cloud Momentum indicators are tilted slightly to the bearish side Nvidia has been the best performing stock of the S&P 500 in 2023, gaining around 250% and marching to consecutive record highs before experiencing a downside correction. Even though the price staged a minor recovery, the 50-day simple moving average (SMA) capped its upside. Should the 50-day SMA hold its ground and deflect the [..]

Technical Analysis – US 100 cash index could see another bullish move

Posted on October 3, 2023 at 7:47 am GMT

The US 100 cash index is edging lower today after four green candles The bearish series of lower lows and lower highs remain intact The momentum indicators point to a continuation of the current upleg The US 100 cash index is in the red today as the short-term bearish trend since the July 19, 2023 peak remains firmly in place. The bulls are trying to stage an upleg but they need a new higher high, above the latest peak of 15,628, [..]

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