Peter Mathers
TradingLounge
S&P 500, INDEXSP:DXY USD, .INX, NASDAQ-100, INDEXNASDAQ: NDX, Russell 2000 RUT. Dow Jones Industrial (DJI) Elliott Wave Technical Analysis and Trading Strategies.
US Stock Markets News Today: Wed – Fed press conference, Thursday – Jobless claims and more.
Elliott Wave Market Summary: The SP500 continues to cling to 4000 and it will continue to try and break away from it but will be pulled back.
Elliott Wave count: Tracking two bullish counts and one bearish count.
Day / Trend Trading Strategies: Looking for a trend late Thursday, expecting to hold that trade through Friday and Monday, building positions through these periods.
Video Chapters:
00:00 S&P500.
16.27 NASDAQ 100 (NDX).
21:05 Russell 2000 (RUT).
28:17 Dow Jones (DJI).
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EUR/USD has lost its traction and declined toward 1.0600 on Friday after having recovered toward 1.0650 with the initial reaction to dismal US PMI data. The negative shift witnessed in risk mood helps the US Dollar gather strength and weighs on the pair.
GBP/USD reversed its direction and turned negative on the day near 1.2150. The sharp decline witnessed in Wall Street's main indexes allows the US Dollar to gather strength as a safe haven against its major rivals and forces the pair to stay on the back foot.
Gold price edged lower after having climbed above $1,790 earlier in the session but remains on track to close the day in positive territory. The benchmark 10-year US Treasury bond yield holds above 3.5%, making it difficult for XAU/USD to gather bullish momentum.
Binance proof-of-reserves report was created by global accounting firm Mazars, the auditor has now suspended all its services for crypto clients. Cryptocurrency exchange platforms KuCoin and Crypto.com were among the crypto clients of Mazars.
We made it to the end of the week and it was certainly a lively one. All central banks were hawkish, not much for risk bulls to grab onto, and the penny finally dropped on Thursday with equity indices collapsing. Falls of 3% was the average for the major indices, and Friday looks no better.
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