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Technical analysis – US 500 index slips after all-time high but holds within bullish area

Posted on May 23, 2024 at 2:53 pm GMT

US 500 prints new record high thanks to Nvidia’s upbeat earnings Better-than-expected US PMIs weigh on the market Technical outlook positive above 5,280 The US 500 stock index has been moving from record high to record high over the past week, surging to a new high of 5,350 on Thursday following Nvidia’s upbeat Q1 earnings report. Upbeat US business PMI figures, however, reminded investors that rate cuts could come with some delay, initiating a decline towards the tentative ascending [..]

Nvidia set to propel Wall Street to new highs but Fed uncertainty weighs – Stock Markets

Posted on May 23, 2024 at 1:52 pm GMT

Nvidia earnings skyrocket on soaring demand for AI chips Boost could fuel next leg of Wall Street’s rally But Fed’s ‘higher for longer’ stance is a growing headwind The AI effect The Q1 earnings season is almost coming to an end and one of the last big names to report is Nvidia. The chip maker just announced a staggering 461% year-on-year jump in earnings per share for the first fiscal quarter of 2024. Revenue is up an equally impressive 262% [..]

Technical Analysis – Can Nvidia unlock 1,000 level?

Posted on May 22, 2024 at 3:27 pm GMT

Nvidia’s stock flatlines as FOMC minutes, Q1 earnings eagerly awaited Stock fluctuates within short-term bullish channel; support at 910-920 Nvidia’ stock bounced off its 20-period simple moving average (SMA) in the four-hour chart on Monday with scope to start a new bullish phase, but the 950 zone came to cap the action ahead of the company’s Q1 earnings due later on Wednesday. The bulls may not give up yet, according to the technical picture. The positive cross between the 20- [..]

Key notes ahead of Nvidia’s Q1 2025 earnings – Stock Markets

Posted on May 21, 2024 at 3:21 pm GMT

Nvidia’s Q1 2025 earnings to be announced on Wednesday after the market closes Analysts expect triple-digit earnings growth as Nvidia dominates AI industry Profitability metrics, forward guidance, and spending plans will be closely watched Nvidia might initiate another bull run if it renews AI optimism AI buzzword fails to boost stocks this season More than 80% of businesses have already reported their earnings, presenting better-than-expected statements and a rosy guidance for the coming quarters, which came in as [..]

Commodities’ volatility jumps due to geopolitics – Volatility Watch

Posted on May 21, 2024 at 2:45 pm GMT

Euro/dollar volatility eases aggressively Volatility in gold and silver skyrockets US equities enjoy low volatility amidst weekly gains Euro/dollar volatility has dropped aggressively as the market is adjusting to a quieter data calendar that nevertheless includes a plethora of Fed speakers. Similarly, volatility in yen crosses remains moderate as market participants, especially in dollar/yen, appear unwilling to further provoke the BoJ and risk significant losses. On the contrary, volatility in the commodities space has gone through the roof. While oil price volatility has eased further despite the latest [..]

Technical Analysis – US 100 index unlocks another all-time high

Posted on May 21, 2024 at 12:22 pm GMT

US 100 index holds above uptrend line and SMAs MACD and RSI move within positive areas Next obstacle at 261.8% Fibo extension The US 100 cash index reached another all-time high of 18,704.55 yesterday as the index extended its move after the rebound off the 16,980 support level. The price broke above the 18,470 level for the first time on May 15 and is trading above its moving averages. The bullish long-term picture is further supported by the MACD, which is rising above its trigger and zero lines. Also, [..]

Equities rally as US data softens – Stock Markets

Posted on May 16, 2024 at 12:53 pm GMT

US stock indices reach new highs as chances of a Fed rate cut jump Extra focus on US retailers’ earnings Utility stocks record the strongest monthly rally since 2022 Could US car manufacturers benefit from the new EV tariffs? Equity markets continue their advance boosted by the softer US data. In particular, Wednesday’s weaker US inflation report is keeping the door firmly open to a Fed rate cut during the summer, supporting the current risk appetite, despite the fact that [..]

Higher euro/dollar volatility ahead of US CPI report – Volatility Watch

Posted on May 14, 2024 at 2:25 pm GMT

Euro/dollar enjoys strong volatility ahead of key data releases Gold and silver see higher volatility amidst muted price rally Volatility drops in US equities as risk appetite returns Euro/dollar volatility has jumped higher as the market is preparing for some key US data prints. On the flip side, volatility in yen crosses remains moderate after the recent Japanese interventions, with market participants trying to avoid further provoking the BoJ at this stage. Volatility in the commodities space remains mixed. Oil price [..]

Technical Analysis – UK 100 index swings to all-time high

Posted on May 9, 2024 at 12:02 pm GMT

UK 100 hits record high after the BoE rate decision; up 8% year-to-date Next target at 8,500, but fears of an overbought market might delay rally The UK 100 stock index (cash) has been performing incredibly well over the past four months, staging another exponential rally this week to unlock an all-time high of 8,393 on Thursday. The index has surpassed a couple of targets, including the 2023 top of 8,045 that temporarily ceased bullish actions on April 12. The spotlight [..]

Technical Analysis – US 500 index advances towards all-time high

Posted on May 8, 2024 at 12:30 pm GMT

US 500 cash index attempts to erase latest pullback Jumps above crucial 123.6% Fibo and eyes record peak Oscillators recover drastically and approach overbought levels The US 500 stock index (cash) has been staging an impressive rally after bottoming out in October 2023, generating consecutive all-time highs. Despite experiencing a strong pullback from its record high of 5,281, the index quickly found its feet and rotated back higher. If buyers continue to apply upside pressures, the price might revisit its record high of 5,281. [..]

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