🔺 Nasdaq and S&P Push to Record Highs 💸 Powell in Focus but CPI Should Trump All 📆 Rangebound Conditions to Persist Today Read the full article here 👇 https://lnkd.in/gJEmtnFM
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With stock markets shrugging off geopolitical events at the moment, how far could the rally in the #sp500 extend? Provide that the PPI and CPI data over the next two days does not meaningfully exceed expectations, then I think that a test of downtrend resistance at 4480 is possible in the near term. Whether that trendline can be decisively broken will likely depend on the path of bond yields and the dollar, IMO. Should 10 year U.S. Treasury yields fall decisively back below 4.35 pct and the Dollar Index (DXY) trade firmly back under 105.30, then I think a break of the trendline near 4480 becomes much more likely. In that scenario, current equity market gains could stretch to 4610 - 4635. I would not describe myself as in the bullish camp on a medium term basis, although I accept that the market is demonstrating positive short term momentum. The issue will become whether such momentum lasts - I am a bit skeptical.
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↗️ US Stock futures are up after the latest Consumer Price Index (CPI) report, showing inflation slowed to 3.4% in April from last year, meeting expectations. However, the consumer price index increased by 0.3% month-on-month, less than expected, and the market responded positively. The S&P 500 futures rose by 0.5% to reach 5,297. Meanwhile, the Dow Jones Industrial Average futures saw a 0.4% increase, reaching 39,821, and Nasdaq-100 futures surged by 0.6% to approximately 18,523. ➡️For traders seeking potential opportunities in the market, consider exploring the diverse range of CFDs on TradeEU Global platform. ……… Past performance is not an indicator of future results. Your capital might be at risk FSC license: GB21026906 #tradeeu #cfds #uscpi #sp500 #nasdaq #dowjones #usinflation #inflation #cfdtrading #economicevent #tradeeuglobal #tradingnews #earningsreport #stockprice #fed #jeromepowell #cpi #interestrates #interestrate #trading #tradingforex #tradingsignals #tradingtips #tradingstocks #tradingview #tradingsetup #daytrading #bellyinflation
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GDP improves but bulls on the back foot | 7550 7530 7500 support | 7599 7648 resistance Decent reaction at the 7625 short order level yesterday and the bears have managed to drop it off back below the 7600 level. A result of which we now have the red 30m coral resistance at 7599 and 7593 for the daily pivot. https://lnkd.in/exFkVQdR #tradingstrategies #SPX #gold #markets #shares #learntotrade #Dax40 #finance #SP500 #Investing #DAX #financetips #stocks #tradingstrategy #trading #FTSE #FTSE100 #analysis #technicalanalysis
GDP improves but bulls on the back foot
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Stock Mart Alert for March 20, 2024 The major US stock indexes maintain their elevated positions as investors await today's FOMC meeting announcement, which will shed light on the monetary policy and interest rate decisions. With recent CPI and PPI data suggesting a nuanced economic landscape, it is anticipated that the Federal Reserve will refrain from committing to rate cuts in 2024 during this meeting, opting to keep such options open for subsequent meetings throughout the year. As prudent traders, we refrain from preemptive actions and allow the market's response to this decision to be reflected on the charts. By adhering to a disciplined approach and letting the chart dictate our trading decisions, we effectively capitalize on the ensuing price movements. Good trading! #algorithmictrading #daytrade #daytrader #daytrading #futures #ForexTrading #investingstrategy #learntottrade #NeverLossTrading #profitabletrades #stockmarket #stocks #stocktrading #swingtrading #technicalanalysis #traders #trading #tradingeducation #tradingindicator #tradingplan #tradingsignal #tradingstocks #tradingstrategies #tradingstrategy #tradingsystem #tradingsucces
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Stock futures are slightly higher, but the vibe may shift following the release of the May CPI report. Market participants are also in wait-and-see mode in front of the FOMC policy directive. Read more here.
Morning Brew: June 12, 2024
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USA PCE Inflation news | 8203 8152 support | 8264 8308 resistance The key for the bulls will be a move above the red 10d Raff channel you can see on the daily chart, with the 8268 level here. https://lnkd.in/eV4MU8FG #tradingstrategies #SPX #gold #markets #shares #learntotrade #Dax40 #finance #SP500 #Investing #DAX #financetips #stocks #tradingstrategy #trading #FTSE #FTSE100 #analysis #technicalanalysis
USA PCE Inflation news | 8203 8152 support | 8264 8308 resistance
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"Record-breaking day for S&P 500 and Nasdaq as markets climb to new heights, but all eyes remain fixed on upcoming CPI data and the Fed's impending decision. #MarketMilestones #InvestorOptimism 📈🚀" #SP500Record #NasdaqHighs #MarketMilestones #CPIAnticipation #FedDecision #Northvale
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The impact of yesterday’s #US_JOLTS number continues to reverberate around markets this morning, with US Treasuries remaining under pressure. US 30-yr yields are above 5% for the first time since 2007 while the key 10-yr yield is now only some 20bps away from breaching that level too. The growing conviction that US interest rates could yet be raised further is similarly weighing on stocks, with the MSCI all-country index posting a fourth consecutive day of declines. #Equiti
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