Stocks are looking bearish at least in the short term after the JOLTS report yesterday and ADP NFP numbers both came in negative. Price has hit a major level of resistance on the 1D timeframe that it has respected for several months. If we get a full rejection from this level, price may turn down towards the $3,800s where there is a double bottom. There is also a chance that market resilience takes the SPX back above the $4,100 level and into the $4,200s where there is a double top.
Gold flies past the $2,000 mark and is now starting to look a little overbought. The 1D candle pulled all the way back to near break even and is suggesting a further decline. JOLTS helped bring gold higher yesterday, and the combination of that and falling yields is a perfect mixture for the metal. If NFP misses on Friday and yields keep falling, that could be another indication of gold bullishness.
Kiwi-Swiss is now the EdgeFinder’s strongest sell. At -6, Kiwi is beat in every category except interest rates. Regardless of NZD’s high interest rates, institutions are still largely short. However, they are also majority short Swiss. Because of this, we should focus on other metrics like GDP, inflation, UE (fundamental metrics). Seasonality shows a historical loss-to-breakeven performance for the month of April in the last 10 years.
Gold breaks $2000 an ounce! Nick's stop loss is locked just below market structure. Check the second image, and you will see something very interesting...
Retail sentiment is incredibly short biased on gold, which indicates just how strong the move is. Usually, retail traders trade against great trends, and miss out on these rare opportunities. As of writing this, retail traders are ~78% short on gold.
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Retail sentiment is incredibly short biased on gold, which indicates just how strong the move is. Usually, retail traders trade against great trends, and miss out on these rare opportunities. As of writing this, retail traders are ~78% short on gold.
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🔥 See what large scale institutions are forecasting on your favorite assets!
Bank forecasts can add confluence to our trading ideas! With the EdgeFinder's new bank projections tab, users can generate graphs to show relevant forecasts on their favorite assets posted by each firm's research teams! Additionally, the bank signals page will display the overall bank sentiment, whether it be bullish, bearish, or neutral.
Institutions we are tracking:
📊 Bank of America
📊 Citi
📊 Goldman Sachs
📊 Wells Fargo
📊 Commerzbank Analyst Team
📊 BMO Capital Markets Team
📊 BNP Paribas Team
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Bank forecasts can add confluence to our trading ideas! With the EdgeFinder's new bank projections tab, users can generate graphs to show relevant forecasts on their favorite assets posted by each firm's research teams! Additionally, the bank signals page will display the overall bank sentiment, whether it be bullish, bearish, or neutral.
Institutions we are tracking:
📊 Bank of America
📊 Citi
📊 Goldman Sachs
📊 Wells Fargo
📊 Commerzbank Analyst Team
📊 BMO Capital Markets Team
📊 BNP Paribas Team
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🚨 NEW TRADE SIGNAL! BUY DOLLAR.
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EURNZD is the EdgeFinder's strongest buy. At +6, the Euro wins in every category except unemployment and interest rates. The crowd is heavily short this pair, but institutions are acting otherwise. Despite lower interest rates, EUR has a better handle on inflation which is arguably the leading metric in measuring a currency's strength.
This pair has historically performed positively in the month of April for the last 10 years on average. The trend reading suggests higher moves into the 1.75s in the mid term. Longer term target for this pair is around 1.76225.
This pair has historically performed positively in the month of April for the last 10 years on average. The trend reading suggests higher moves into the 1.75s in the mid term. Longer term target for this pair is around 1.76225.
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Gold looks stronger by the day on a fundamental level. Predominately, the metal prevails under recessionary worries, stock market fears, lower treasury yields and poor economic data. All of which are happening right now. Tomorrow's NFP news is already expected (236K) to be lower than the previous report (311K), which suggests signs of contraction.
Because of lower forecasts this time around, NFP could still beat the expectation. However, a number closer to the forecast than the previous is not a good sign for the economy. Gold is heavily bought by institutions, retail is heavily bearish, seasonality points to more gains, trend readings are higher, targets are $2,063 and $2,125.
Because of lower forecasts this time around, NFP could still beat the expectation. However, a number closer to the forecast than the previous is not a good sign for the economy. Gold is heavily bought by institutions, retail is heavily bearish, seasonality points to more gains, trend readings are higher, targets are $2,063 and $2,125.
🚨 NEW TRADE SIGNAL! XAUUSD.
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🏆 Price Forecasts 7 Days Out!
Get a quick price forecast on any of your favorite currency pairs based on momentum. The Edgefinder's price forecast captures the overall trend and projects it 7 days into the future. That projected trend line is also surrounded by a higher and lower deviation to encompass the expected area and direction of future price movement.
EdgeFinder Pro users get access to:
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Get a quick price forecast on any of your favorite currency pairs based on momentum. The Edgefinder's price forecast captures the overall trend and projects it 7 days into the future. That projected trend line is also surrounded by a higher and lower deviation to encompass the expected area and direction of future price movement.
EdgeFinder Pro users get access to:
✅ Watchlist
✅ Smart Money Tracker
✅ Individual Market Summaries
✅ Retail Sentiment
✅ Market Heatmap
✅ Price Forecasts
✅ Fundamental Data & Analysis
✅ Historical Backtests
✅ Risk on / Risk off Gauge
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AUD/USD Analysis
AU is one of our two strongest sells at -6. The USD has AUD beat in every category except Seasonality and Unemployment categories. COT is pro-dollar while largely short AUD. The retail crowd is the opposite. US unemployment came out lower, but NFP did too. There is still some mixed sentiment around the US economy, but it looks clearer that the dollar is still in control.
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AU is one of our two strongest sells at -6. The USD has AUD beat in every category except Seasonality and Unemployment categories. COT is pro-dollar while largely short AUD. The retail crowd is the opposite. US unemployment came out lower, but NFP did too. There is still some mixed sentiment around the US economy, but it looks clearer that the dollar is still in control.
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✅ Historical Backtests
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The EdgeFinder ONE! Celebrate a year of the Edgefinder with our biggest sale of the year!
EdgeFinder Pro
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EdgeFinder Pro Features:
✅ Watchlist
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✅ Individual Market Summaries
✅ Retail Sentiment
✅ Market Heatmap
✅ Bank Signals
✅ Price Forecasts
✅ Fundamental Data & Analysis
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SPX500 Analysis
Stocks turned from a strong sell to a buy rating on the EdgeFinder. As unemployment came in lower, stock futures rose as a result. The Historical Backtest feature spots shifts in trends by comparing the score with price action. Because the score is no longer a strong sell, we could be in the middle of a larger move to the upside. However, jobs data is mixed. NFP came in lower than last month but slightly higher than expectations. Although markets are mixed, the EF is indicating that there is a possibility of more upside.
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Stocks turned from a strong sell to a buy rating on the EdgeFinder. As unemployment came in lower, stock futures rose as a result. The Historical Backtest feature spots shifts in trends by comparing the score with price action. Because the score is no longer a strong sell, we could be in the middle of a larger move to the upside. However, jobs data is mixed. NFP came in lower than last month but slightly higher than expectations. Although markets are mixed, the EF is indicating that there is a possibility of more upside.
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🚨 NEW TRADE SIGNAL! GBPJPY.
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