All Articles Tagged - US100cash

Technical Analysis – US 100 cash index bears want a lot more than just a small correction

Posted on July 25, 2023 at 10:19 am GMT

The US 100 index is edging higher today as a small correction is underway after the index registered its highest level of 15,931 since January 13, 2022. With a 32% rally in place since the March lows, the bulls are probably taking a breather at this juncture as they prepare for another upleg. However, the momentum indicators are not sharing the bulls’ complacency. The Average Directional Movement Index (ADX) is close to returning below its 25-threshold and thus preparing to signal a range-trading market. [..]

Daily Market Comment – Dollar’s fate lies on the Fed as ECB officials soften tone

Posted on July 20, 2023 at 8:32 am GMT

Dollar extends recovery, awaits Fed decision ECB’s Stournaras said July hike would be enough Pound, yen extend retreat, aussie gains on jobs report Tesla and Netflix earnings results disappoint Dollar’s fate lies in the hands of the Fed The dollar continued to trade higher against most of the other major currencies on Wednesday, perhaps as traders further liquidated short positions after last week’s tumble due to the larger-than-expected slowdown in consumer and producer prices for June. Nonetheless, in the absence of [..]

Microsoft Q2 Earnings: ChatGPT and AI performance take centre stage – Stock Market News

Posted on July 20, 2023 at 6:36 am GMT

The next week will be packed with major US tech companies’ earnings releases, which are expected to garner significant attention as the buzz around Artificial Intelligence (AI) has been the main driver behind the 2023 equity market rally. Microsoft, alongside Alphabet, will be the first to unveil its Q2 financial performance on Tuesday after Wall Street’s closing bell. Will the fundamentals support the exponential rally, or will guidance around AI initiatives steal the limelight? Stellar quarter leads to record high [..]

Technical Analysis – US 100 index makes new higher highs

Posted on July 19, 2023 at 11:18 am GMT

The US 100 stock index (cash) revived its 2023 bullish outlook after a constructive week, marking a new higher high at 15,986 on Tuesday. The uptrend shows no signs of abating despite warnings of an overbought market from the RSI and the Stochastic oscillator. The upward-sloping moving averages (SMAs) are endorsing the positive trajectory in the market as the price is aiming for the 16,000 psychological number. Yet, some caution might develop in the coming sessions as the index is facing limitations [..]

Nasdaq 100 rebalances this month, what’s the effect? – Stock Market News

Posted on July 14, 2023 at 11:46 am GMT

The Nasdaq 100 index will rebalance the weights of its component stocks this month, effective July 24. This move will reduce the weight of the largest companies, to counter the supremacy of heavyweight tech shares and avoid concentration. In isolation, this implies less demand for the largest stocks and more flows into smaller Nasdaq companies. Of course, several other factors will also influence these shares moving forward. “Special rebalancing” A scorching rally has seen the Nasdaq 100 gain 42% so [..]

Daily Market Comment – Dollar takes another bullet after easing producer prices

Posted on July 14, 2023 at 8:13 am GMT

US producer prices barely increase in June Dollar extends fall as investors add to their Fed cut bets Euro and pound extend their uptrends; aussie and kiwi rally Wall Street rises on cooling inflation; bank earnings on tap Dollar takes another dive after soft PPI data The US dollar extended its free fall on Thursday against all the other major currencies, taking another steep dive after more US data added credence to the view that the Fed may be closer [..]

Technical Analysis – Is the US 100 cash index on the brink of a correction?

Posted on July 11, 2023 at 6:44 am GMT

The US 100 index is trading sideways today as a double top pattern appears to be forming. This bearish structure will become valid if the 14,687 neckline is broken, with an assumed target at the 14,000 area. If this move materializes, it will be the first decent correction since the March 2023 banking sector-induced sell-off. The momentum indicators are probably leaning towards a correction as well. The Average Directional Movement Index (ADX) remains a tad above its 25-threshold and thus signalling a [..]

Q2 Earnings season: A crucial reality check for 2023 stock rally – Special Report

Posted on July 10, 2023 at 12:39 pm GMT

The second quarter earnings season will unofficially begin on Friday, with major US banks, as always, setting the tone. Despite stock markets’ stellar performance so far in the year, earnings are set to contract as high interest rates continue to put the brakes on the global economy. With valuations still at expensive levels and liquidity starting to evaporate, any disappointing figures could easily trigger a downside correction. Moment of truth after outstanding first half Undoubtedly, the major US indices exhibited [..]

Is the stock market rally running on fumes? – Special Report

Posted on July 6, 2023 at 10:16 am GMT

It’s been a fantastic year for stock markets so far, with the S&P 500 gaining 16% and the tech-heavy Nasdaq Composite 32%. Recession fears have melted away and the hype surrounding artificial intelligence has served as jet fuel for this rally. The problem is that valuations are stretched while earnings growth is stagnant, so it is difficult to view this recovery as the beginning of a new bull market, especially with liquidity flows drying up. Behind the scenes The Nasdaq [..]

Technical Analysis – US 100 cash index prepares for a new 2023 high

Posted on July 4, 2023 at 6:58 am GMT

The US 100 index is moving sideways today, trading a tad below 15,258 that has morphed into a significant resistance level. The bulls failed to clear this level on their first attempt on June 16, 2023, and are now preparing the stage for another retest. The bears continue to exhibit an inability to record a decent pullback despite the fact that the aggressive upleg, since the March 13, 2023 low, lacks a significant correction. The momentum indicators appear mixed at this stage. The Average [..]

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