Daily Pivots: (S1) 0.9302; (P) 0.9311; (R1) 0.9320; More…. Intraday bias in EUR/CHF remains mildly on this point. Rebound from 0.9208 short term bottom would target 0.9371 resistance first. Firm break there will target 0.9452 next. On the downside, below 0.9283 minor support will turn bias neutral again. In the bigger picture, outlook remains bearish […]
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Daily Pivots: (S1) 152.55; (P) 153.35; (R1) 153.86; More… USD/JPY is still extending consolidations from 154.47 and intraday bias remains neutral. Further rally is expected as long as 151.52 support holds. Above 154.47 will resume larger rise from 139.87 to 100% projection of 146.58 to 153.26 from 149.37 at 156.05. Break there will pave the […]
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Daily Pivots: (S1) 0.8778; (P) 0.8799; (R1) 0.8810; More… Intraday bias in EUR/GBP is turned neutral again with current retreat. On the upside, above 0.8828 will resume the rally from 0.8221 to 0.8867 fibonacci level. Firm break there will carry larger bullish implications. However, considering bearish divergence condition in 4H MACD, decisive break of 0.8761 […]
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Daily Pivots: (S1) 1.7700; (P) 1.7775; (R1) 1.7896; More… EUR/AUD’s break of 1.7813 resistance dampen the original bearish view. Intraday bias is back on the upside for 1.8160 resistance first. On the downside, though, break of 1.7561 will resume the fall from 1.8160 to 1.7254 support. In the bigger picture, price actions from 1.8554 medium […]
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S&P 500 futures are down 0.35% as we near the equity open.
The weakness started early this week after Palantir earnings and the bizarre performances from the CEO led to some profit taking in highly valued tech stocks.
Today’s catalyst was supposed to be Tesla shareholders approving a potential $1 trillion pay package for Elon Musk but shares are down 1.1% after initially jumping 3% on the vote.
The most-worrisome one is Nvidia, which is obviously the flag-bearer for the market. It fell 4% yesterday and is down 1.6% pre-market. It’s erased most of the late-October rally. A good portion of the jump was based on hopes for re-opening sales to China but now that doesn’t look like it will happen so it’s been something of a U-turn.
This article was written by Adam Button at investinglive.com.
Canada gained 67k new jobs in October (0.3% m/m), defying forecasters, and building on September’s gain. Gains through September and October have now offset losses in July and August. However, the details were mixed, with the private sector driving the increase (+73k), but positions were mainly part-time (+85K). Job gains pushed the unemployment rate down […]
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