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Technical Analysis – US 500 cash index trades a tad above a 2-month low

Posted on October 2, 2023 at 7:46 am GMT

The US 500 cash index is moving sideways again today The index bounced off the October 13, 2022 trendline The momentum indicators could signal a reversal soon The US 500 cash index is trading sideways today, hovering around the busy 4,270-4,310 area. The current downleg stopped at the long-term October 13, 2022 upward sloping trendline, allowing the bulls to temporarily gain some breathing space. However, the current bearish series of lower lows and lower highs remains intact. In the meantime, [..]

Stocks tumble as VIX spikes to highest level since May – Stock Markets

Posted on September 28, 2023 at 11:41 am GMT

US equity indices retreat as investors face ‘higher for longer’ reality Wall Street’s fear gauge, VIX, posts a fresh 4-month peak Treasury yields surge to consecutive cycle highs, increasing appetite for bonds Bearish sentiment pervades Wall Street Equity markets have been under downside pressure lately as investors are bracing for a protracted period of high interest rates. On Tuesday, the US CB Consumer Confidence index slumped to a four-month low, reflecting rising fears over a deteriorating economic outlook and renewed inflationary [..]

Technical Analysis – Nvidia stock retreats but remains in an uptrend, for now

Posted on September 27, 2023 at 8:31 am GMT

Nvidia stock has retreated 16% from its August record highs Uptrend remains intact, but drop under 402.00 can change that Huge earnings gap below is a clear risk if market moves lower Nvidia shares have moved sharply lower since reaching a new record high in late August. Yet, the price structure of higher highs and higher lows has not been violated yet, which suggests that the market remains in an uptrend. That said, any declines below the crucial 402.00 [..]

Technical Analysis – Tesla stock drops below 50-day SMA

Posted on September 26, 2023 at 3:01 pm GMT

Tesla stock experiences a pullback from September high Dipped beneath its 50-day SMA before recouping some losses Further declines could send the price to test the crucial ascending trendline Tesla’s stock has been undergoing a solid downside correction after peaking at the 278.00 region in mid-September. Despite yesterday’s green candle, the short-term indicators are pointing to more losses in the near-term as the MACD is below the red signal line and the RSI is hovering in its bearish territory. [..]

Technical Analysis – US 500 index drops below 23.6% Fibonacci

Posted on September 25, 2023 at 1:36 pm GMT

US 500 index posts fresh 3-month low in today’s session Bears eye the ascending 200-day SMA Momentum indicators suggest that the recent decline could be overstretched The US 500 stock index (cash) has been experiencing a strong pullback following its rejection near the 50-day simple moving average (SMA) in mid-September. However, the aggressive selloff could be over soon as the momentum indicators are hinting at oversold conditions. If sellers push the price lower, initial support could be met at 4,178, which is the 38.2% Fibonacci retracement of [..]

Technical Analysis – Intel stock plunges after sharp selloff but uptrend intact

Posted on September 21, 2023 at 10:00 am GMT

Intel share price nosedives days after hitting 40.00 Momentum indicators point to further losses in short term But medium-term bullish structure intact for now Intel stock tumbled in the past two sessions, losing about 8.75% of its value. Crucially, the price has slid below both its 20- and 50-period simple moving averages (SMAs), signalling a dramatic shift in the near-term picture from bullish to bearish. The RSI has fallen from around 70.0 to below 50.0 but has yet to reach [..]

Technical Analysis – US 100 cash index is lower again today; sell-off could have legs

Posted on September 21, 2023 at 9:06 am GMT

The US 100 index is edging lower today, testing the support of the 100-day SMA Bears are trying to recover part of their significant losses since the March 2023 lows The pullback could continue according to the momentum indicators Recent market events have changed the sentiment in the US 100 cash index and the bears appear to have the upper hand at this juncture. The index is recording its third consecutive red candle as the bears are probably aiming to achieve [..]

Tech stocks wobble on rising yields and chip demand worries ahead of Fed decision – Stock Markets

Posted on September 20, 2023 at 10:28 am GMT

Stocks slide as Treasury yields advance ahead of FOMC rate decision Worries over chip demand outlook casts shadows over AI growth prospects Instacart validates tech IPO resurgence, but can the excitement last? Surging yields bite stocks as inflation fears re-emerge Undoubtedly, the main event of the week is the FOMC interest rate decision later on Wednesday, which will be accompanied by the updated dot plot and a summary of the latest economic projections. Markets are convinced that the Fed will [..]

Technical Analysis – US 500 cash index prepares for Wednesday’s event

Posted on September 18, 2023 at 7:37 am GMT

The US 500 cash index tries to recover from Friday’s decent red candle The bears are trying to increase the bearish pressure by aiming for a lower low The momentum indicators could open the door to a further bearish correction The US 500 cash index is in the green today as the market is anxiously waiting this week’s events. The bears are trying to exert their influence and stage another downleg, but most market participants are unlikely to be aggressive [..]

Stocks cheer mixed CPI report, trade wars migrate to more sectors – Stock Markets

Posted on September 14, 2023 at 3:13 pm GMT

Markets post a risk-on session despite hotter-than-expected headline CPI Renewed trade tensions affect electric vehicle manufacturer stocks and Apple Tech giants discuss with US lawmakers over the need for AI regulation Equities gain despite upbeat inflation reading On Wednesday, markets got an updated US inflation report, which was highly anticipated as it would assess the impact of surging energy prices on the economy. The headline rate accelerated to 3.7% on an annual basis in August versus the 3.6% projection, while [..]

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