During the week of May 16-20 Twitter remained in the spotlight, Wall Street languished as poor results from major retailers reignited fears of stagflation, China’s Xiaomi saw a revenue drop, while more news were in the spotlight
US30 looks to be charting the next lower peak in its H4 chart.
The US30's momentum is showing bearish pressure. If it maintains current readings, prices are likely to decline further.
The US Index posted its worst day since the height of the pandemic yesterday, as major retailers saw their bottom lines getting crushed, causing risk aversion and renewed fears of stagflation
Large US retailers were in focus this week, as they reported their earnings, which showed lower profitability and margins in an environment of high inflation
The US30 bounce since last week Thursday has run into overhead resistance.
Retail numbers are strong, with previous revised up.
Elon Musk's takeover of Twitter (TWTR.us) cannot proceed until the company provides proof that the number of fake or spam accounts makes up less than 5% of total accounts.
Dow breaks out of short-term continuation pattern ahead of cash open.
The S&P 500 is rallying pre-cash open. However, key levels above suggest caution still needs to be exercised.
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