First sign of some strength

Monica Kingsley Monicakingsley

Where? In tech relative to SPY on a daily basis, just daily for now. S&P 500 and Nasdaq did crater on hot inflation, weak growth combo (very understandable), and then rebounded as called (I‘m featuring below the Trading / Stock Signals charts clients had well before the opening bell – played out well, even if QQQ 600 was not undershot in the end).

Similar to Thursday, Friday offered very wild intraday swings in tech – and whether intraday or swing trader, this is how to approach it (decreased position sizing, and if mounting a swing position, knowing we‘re in a trending market where S/R rule – additional thoughts from our intraday channel for stocks).

Then, we have the dollar clining to 98 again, in all the geopolitical uncertainty – I‘m covering further on the current sectoral view, and where we are in the stock market bull run, with sectoral implications. Supreme Court ruling on tariffs was widely anticipated, and caused little reaction even if it was really broad – certain industries with heavy (China and other) imports exposure, benefit. What though catched fresh attention (and market reaction), is raising them from 10% to 15% on all, as just happened.

Author

Monica Kingsley

Monicakingsley

Monica Kingsley is a trader and financial analyst serving countless investors and traders since Feb 2020.

AUD/USD meets support around 0.6900

AUD/USD remains well on the defensive, bouncing off three-month lows near the 0.6900 level ahead of the opening bell in Asia on Friday. The pair has accelerated its weekly downtrend in response to the marked advance in the Greenback and the widespread selling pressure on the risk-linked assets.

USD/JPY sits at weekly top above 158.00 as bullish USD counters intervention risks

USD/JPY is sitting at the top end of its weekly range above 158.00 in the Asian session on Thursday. Despite the softer US PCE data, oil-driven inflation risks keep US bond yields elevated near multi-year highs. Moreover, the US-Iran standoff benefits the safe-haven US Dollar and supports the pair. Broad US Dollar strength counters hawkish BoJ expectations and Japanese intervention risks.

Gold alternates gains with losses below $4,200

Gold trades without a clear direction on Thursday, always below the key $4,200 mark per troy ounce. The yellow metal’s vacillating price action comes amid the marked advance in the US Dollar coupled with steady effervescence in the Middle East conflict.

Near Protocol slides below $5.00 after Near Intents $4M exploit

Near Protocol (NEAR) uptrend has been cut short, as the price slides below $5.00 on Thursday. The correction comes after an exploit on the network’s Near Intents services, which affected deposits and withdrawals across 11 crypto networks. NEAR is currently trading at $4.88, below the daily high of $5.54, while falling momentum indicators suggest that sellers are gaining the upper hand.

Markets are pricing a Fed pause. The jobs data says the hike is still coming

The market has rapidly changed its mind about the Fed. Only a week ago, investors saw an October interest-rate hike as the most likely outcome. However, softer inflation and cautious comments from policymakers have since turned a pause into the dominant scenario.

Markets are pricing a Fed pause. The jobs data says the hike is still coming

The market has rapidly changed its mind about the Federal Reserve (Fed). Only a week ago, investors saw an October interest-rate hike as the most likely outcome. However, softer inflation and cautious comments from policymakers have since turned a pause into the dominant scenario. Yet beneath that dramatic repricing, the US economy is sending a considerably less dovish message.