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Technical Analysis – US 500 reverses towards 123.6% Fibonacci

Posted on April 15, 2024 at 9:53 am GMT

US 500 cash index experiences a minor pullack Meets support at 123.6% Fibo extension of its 2022 downtrend Oscillators exit overbought zones, but do not weaken dramatically The US 500 stock index (cash) has been staging an impressive rally since it bottomed out in October 2023, generating consecutive all-time highs. Although the price has been experiencing a setback in the past two weeks, it’s still too early to call for a sustained downside correction. Should bearish pressures persist, the index could challenge 5,130, which is the 123.6% [..]

Technical Analysis – Citigroup stock pulls back ahead of earnings

Posted on April 10, 2024 at 1:29 pm GMT

Citigroup shares post 25-month high in 2024 But experience a setback ahead of Q4 earnings on Friday Short-term oscillators soften in overbought territories Citigroup’s stock has been staging a V-shaped recovery since its 2023 bottom in October, posting consecutive multi-month highs. In the near term, the stock posted a fresh 25-month peak of 63.62 one week ahead of Q1 earnings, but quickly retraced lower due to reaching overbought conditions. Should the recent weakness persist, the stock may slide towards 59.15, which [..]

Banks Q1 earnings: Weak results despite stock outperformance – Stock Markets

Posted on April 10, 2024 at 11:42 am GMT

US banks kick off Q1 earnings on Friday before opening bell Earnings set to drop despite the robust US economy Valuation multiples rise but remain historically cheap Solid quarter due to Fed repricing The banking sector started the year on the wrong foot as expectations of six rate cuts by the Fed had delivered a strong hit to their net interest margin outlook. This metric is essentially the difference between the interest income generated by long-term assets such as loans and the [..]

Can Q1 earnings season refuel the equity market rally? – Stock Markets

Posted on April 5, 2024 at 1:41 pm GMT

Earnings parade unofficially starts on April 12 with major US banks S&P 500 profit growth forecast at 5.1% y/y after downward revision Fluctuating expectations around Fed policy remain a key risk factor Investors hit the pause button Undoubtedly, the major US indices had a fantastic 2023, with the positive momentum being carried over to this year as the soft-landing narrative became more and more entrenched in market projections. This positive sentiment translated into solid gains for the stock market, which [..]

Why does the 10-year US yield remain so high? – Special Report

Posted on April 4, 2024 at 2:14 pm GMT

The 10-year US yield is a key determinant of FX moves It tends to drop when the Fed prepares to cut its interest rates Despite market expectations about the Fed, the 10-year US yield remains high A stock market correction could be a catalyst for a sizeable drop in US yields The 10-year US yield is the barometer of the US economy. It is the basis for pricing both sovereign and corporate debt and it also determines US mortgage rates [..]

Technical Analysis – Tesla’s slump difficult to fix in near term

Posted on April 3, 2024 at 2:28 pm GMT

Tesla stock has a bumpy path so far in 2024 Remains exposed to additional bearish actions Support could be next found around 155 Tesla’s stock finished the first quarter of 2024 on the downside. Having lost nearly 33% so far this year, questions remain about whether the price could experience a meaningful rebound amid falling demand for electric vehicles and increased competition in China. Technically, the rejection near the 20-day exponential moving average (EMA) and the resistance trendline from [..]

Technical Analysis – US 500 index retreats from record high

Posted on April 2, 2024 at 3:48 pm GMT

US 500 faces downside pressures for the second consecutive day More weakness possible, but key support levels are nearby The US 500 stock index (cash) opened negative on Tuesday, strengthening its negative momentum towards its 20-day exponential moving average (EMA), which has been buffering downside movements since the start of the year, around 5,185. With the RSI marking a new low below an important support area and the stochastic oscillator decelerating, the odds for a bearish impulse have increased. [..]

Technical Analysis – GER 40 index marks highs after highs

Posted on March 27, 2024 at 4:46 pm GMT

German 40 index hits all-time high Uptrend shows ongoing strength, but a pause is likely The German 40 index has been having an exceptional performance so far in 2024, gaining more than 10% to unlock an all-time high of 18,510 on Wednesday. The ongoing positive trend has yet to show any cracks, but with the price marking its 10th consecutive green week near the upper Bollinger band and the momentum indicators pointing to overbought conditions, the bears could be around the [..]

Technical Analysis – Could the quieter sessions ahead impact the US 100 index?

Posted on March 26, 2024 at 10:00 am GMT

US 100 cash index is in the green today, hovering just below its all-time high The market survived a key week and is probably preparing for the Easter break Momentum indicators remain mostly on the bulls’ side The US 100 cash index is edging higher today as the market survived, mostly unscathed, the busiest week of 2024. It continues to trade a tad below its March 21, 2024 high at 18,467 but only above the October 26, 2023 ascending trendline. Following [..]

Does the Easter break affect markets? – Special Report

Posted on March 21, 2024 at 3:46 pm GMT

Oil prices tends to rally before and after Easter Sunday Euro/dollar’s performance becomes clearer when drilling down the data Patterns emerge when focusing only on Easter Sunday occurring in March Most participants who trade based on seasonal patterns, enjoy combining the market’s performance with certain events like the Christmas and Easter breaks. This report focuses on the performance of certain key market assets: (1) during the final week before Easter Sunday, (2) the first week after Easter, (3) 30 days [..]

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