Thinning air up there?

Monica Kingsley Monicakingsley

S&P 500 gave us just the dip into Tuesday‘s opening bell, retail buying spree with a temporary retracement, and steady buying into the close. Such is the view following Friday‘s trend change that took both S&P 500 and Nasdaq over key resistances, and respective breadth characteristics tell the remainder of the story as much as bond market and volatility metrics.

Till year end I was clear, it‘s about risk-reward favorable long entry, with ES leading over NDX lagging (such was the essence of Monday‘s profitable call, and as Nasdaq had comparatively more limited upside potential than SPX yesterday, I wasn‘t touting tech either). In this respect, seeing NVDA up 3%, with AVGO, GOOGL, AMZN (and ORCL will not be too far behind) turning, is most encouraging – TSLA won‘t be that far behind, because robotics.

Gold and silver are likewise both bringing gains to clients as called, which I cautioned oil shorts to remain awake.

Merry Christmas once again – Friday, I‘ll publish intraday updates and into premium Telegram channels, with a regular article coming on the weekend as always.

Author

Monica Kingsley

Monicakingsley

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

GBP/USD edges lower due to safe-haven demand

GBP/USD inches lower after opening at a bullish gap, trading around 1.3200 during the Asian hours on Monday. The pair loses ground as the Pound Sterling declines against the US Dollar amid emerging safe-haven demand, which could be attributed to the United States-Iran talks uncertainty.

EUR/USD remains stronger despite uncertainty surrounding US-Iran talks

EUR/USD pair maintains its upward momentum for a third consecutive session, trading near 1.1390 during Monday's Asian hours. Despite this positive streak, the Euro’s gains could face headwinds if geopolitical uncertainty sparks a flight to safety, boosting the US Dollar.

Gold looks south amid US-Iran uncertainty and Death Cross in play

Gold snaps a two-day rebound from seven-month lows, as sellers return in the Nonfarm Payrolls week ahead. The US Dollar holds the previous bounce amid renewed Mideast tensions, hawkish Fed bets. Gold stays a ‘sell on rise’ trade amid bearish RSI and Death Cross on the daily chart.

Week ahead: NFP report to challenge Dollar strength and the hawkish Fed

The end of the Middle East conflict and the steps made so far towards securing a comprehensive deal over the next five weeks – with oil prices dropping aggressively but maintaining a small risk premium – has allowed investors to focus elsewhere. Contrary to expectations, the greenback has been the main protagonist lately.

Middle East War updates: US, Iran appear to be returning to talks to end the war

Here’s a brief recap of the key developments in the Middle East war that occurred over the weekend, which are expected to have a significant impact on markets in the upcoming week.

Regime change: Inside Kevin Warsh's first move to make the Fed unreadable on purpose

The rate did not move. That was the least interesting thing about Kevin Warsh's first meeting in charge of the Fed. The FOMC held its benchmark at 3.50%-3.75% for the fourth straight meeting, exactly as priced, and then the new chair used his first press conference to dismantle the machinery the market has leaned on for a decade.