A drop is not the best word to describe pre-market activity today as the S&P is only down 0.10% after PPI numbers came out. The index is now only a +2 on the EdgeFinder after all the indices were up at the top of the list earlier this week and last week. When Powell speaks today, we will likely hear him remain cautious towards inflation and may anticipate growth in the economy and jobs going into the end of the year. If we do not hear any key hawkish words from him, the market may consolidate or move higher.
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The dollar has seen an overall decline in bullish sentiment since September. Still, it continues to climb towards last year's highs in October. What we can interpret from dollar strength is that output, jobs and inflation could rise as a response to the change in presidency and risk-on appetite. Usually the dollar is a risk-off indicator, but it also rises on growth especially if it will hold more value than other major countries that are struggling economically.
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A higher CPI reading was expected and became the outcome on Wednesday. As long as CPI can stay below 3%, there might not be any fears of rate hikes in the future. We still have December's number to suggest where the trend could be heading for 2025.
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NASDAQ Daily Chart:
Sharp reversal here today, drastically changing this week's stock market performance.
The selloff is led lower by the technology sector and specifically the semiconductor industry stocks.
Powell's commentary yesterday seems to be spooking stock investors, who may have been hopeful for a more dovish outlook / more rate cuts next year.
Overall, I remain bullish on indices, but taking profits for the week ahead of the weekend.
- Nick
Sharp reversal here today, drastically changing this week's stock market performance.
The selloff is led lower by the technology sector and specifically the semiconductor industry stocks.
Powell's commentary yesterday seems to be spooking stock investors, who may have been hopeful for a more dovish outlook / more rate cuts next year.
Overall, I remain bullish on indices, but taking profits for the week ahead of the weekend.
- Nick
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Once I’ve got my fundamental direction, I look for technical setups that confirm the move. For example, if the EdgeFinder shows a bullish asset, I look for a pullback or key support level to enter. If it’s bearish, I search for resistance or price rejection to confirm the trend.
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- Nick
My strategy starts with the fundamentals. I use the EdgeFinder to analyze economic data and score assets, which helps me identify which ones have the strongest setups. When the EdgeFinder scores an asset as highly bullish or bearish, that’s my cue to prioritize that trade.
🔍 Aligning with Technicals
Once I’ve got my fundamental direction, I look for technical setups that confirm the move. For example, if the EdgeFinder shows a bullish asset, I look for a pullback or key support level to enter. If it’s bearish, I search for resistance or price rejection to confirm the trend.
📈 Why This Works
By combining strong fundamental analysis with precise technical entries, I’ve seen my trade quality improve significantly. It’s not just about finding a good entry; it’s about making sure the fundamentals are in my favor.
Want to learn more about my strategy? Watch the full video here!
- Nick
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Gold Daily Chart:
I'm watching cautiously here... The post election selloff in gold seems to be trying to find a bounce at these levels.
However, we recently saw a similar attempt to bounce, that was met with a strong bearish move lower.
The US dollar's recent strength, due to a robust US economy, is a major headwind I see for gold at this time.
Unless inflation begins to cool again, and US economic data slows, I remain neutral / slightly bearish on this one.
- Nick
I'm watching cautiously here... The post election selloff in gold seems to be trying to find a bounce at these levels.
However, we recently saw a similar attempt to bounce, that was met with a strong bearish move lower.
The US dollar's recent strength, due to a robust US economy, is a major headwind I see for gold at this time.
Unless inflation begins to cool again, and US economic data slows, I remain neutral / slightly bearish on this one.
- Nick
Gold caught a swing back to the upside this morning which could break the 6 day losing streak falling 8% off the highs. Price came down to a significant trend line on the 1D timeframe and is now up 1.79% today. This could be a good entry for buyers this week, but we will have to see if the metal can stay above the $2,600s level. This could be a short term swing from being oversold.
-Frank
-Frank
For the first week in a while, there is a clear shift away from stocks last week. SPX is the top seller at -7.09%, and the rest of the indices were sold as well. Just about everything saw a negative net positional change except, AUD, ZAR, EUR, GBP and NIKKEI.
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There was another change of 0.4% retail sales growth last month indicating steady rises in consumer spending. This is a good sign because investors don't want to see a surprise increase in spending and at the same time, don't want to see a decline. The economy needs to stay healthy, but not rum rampant and cause another inflationary concern.
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I'm watching several charts - but I wanted to share this screenshot.
I am finding it hard to find new entries at this time, because several of the top setups ideas are currently not fully agreeing with price action.
I would like to see a technical setup + fundamental setup, and currently don't see many setups that have confluence between the two.
Staying patient, but watching!
- Nick
I am finding it hard to find new entries at this time, because several of the top setups ideas are currently not fully agreeing with price action.
I would like to see a technical setup + fundamental setup, and currently don't see many setups that have confluence between the two.
Staying patient, but watching!
- Nick
Gold bounced for the second day after a harsh pullback to a strong trend line. The metal may have limited upside as demand for the dollar and stocks stays high. This short term swing could be another setup to the short side after price tested resistance above $2,615. Gold had a good technical bounce off a clear support level, but it might not be enough to bring prices back to all time highs. The EF ranks gold at a -4.
- Frank
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- Frank
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A1 TRADING | Forex & Futures
BTCUSD Daily Chart The crypto gods are favoring us this day. Bitcoin just became my top performing trade this year... - Nick
This trade was alerted to members from the beginning.