Russell Shor

Russell Shor

Senior Market Specialist

Russell Shor joined FXCM in October 2017 as a Senior Market Specialist. He is a certified FMVA® and has an Honours Degree in Economics from the University of South Africa. Russell is a full member of the Society of Technical Analysts in the United Kingdom. With over 20 years of financial markets experience, his analysis is of a high standard and quality.

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  • Tesla Stock Declines, Weekly Pattern Breakdown, After Poor Q3 Earnings

    Tesla released its Q3 earnings yesterday, which were weak and included downbeat comments from CEO Elon Musk. Company adjusted EPS was 66c with disappointing gross margins (excluding regulatory credit sales) of 16.3%. This was lower than the Wall Street estimate of 70c and 17.5% respectively. Operating margin was 7.6%, almost 10% lower than 2022’s comparable.

  • Yields Are Dominating and Creating a Risk-Off Environment

    The US 10-year Treasury yield is trading at 4.97%, just shy of the psychological 5% level. This is likely to weigh on the stock market. In effect, the higher interest rates mean that yields on risk-free treasuries have increased making them compelling to investors. Even those sitting in cash will feel the benefit of the higher yields. Moreover, with these type of returns from yielding assets, it will discourage investing…

  • Tesla Top-Down Technical Analysis Ahead of Q3 Earnings Release

    Tesla is the world’s most valuable auto stock. It will release its Q3 earnings today, and a key focus will be on gross margins. The company has cut its prices multiple times recently to drive sales, combat a slowing economy and fight the increase in competition. Wall Street is looking for an EPS of 72c and turnover of $23.9bn, however not at the expense of much poorer margins.

  • Gold’s Upside Momentum Has Improved Markedly

    Last week’s movement by gold has changed its technical position. The candlesticks have moved above the 30-week EMA and the EMA has bullishly turned up. Moreover, the weekly RSI has popped above 50 (green rectangle) which is the bullish side of the indicator. The longer it maintains above 50, the greater the momentum support for the yellow metal. Another positive is that gold’s candlesticks have broken out above the green…

  • Higher Real Yields Impacting on SPX500

    The US 10-year real yield is moving higher. Its green 5-day EMA is pulling away from its orange 10-day EMA (black circle) and the RSI is moving higher and away from 50 (green rectangle). As yields appreciate, they tend to act as a headwind to the risk side of the market.

  • Apple Shows Interesting Weekly Technical Setup

    Apple shares have begun the week on the backfoot as reports indicate that the iPhone15 may be seeing some weakness in China. According to analysts at Jefferies, iPhone sales have experienced a significant decline in the double-digit range when compared to the iPhone 14 Pro. This drop can be attributed, at least in part, to the launch of Huawei's latest offering, the Mate 60 Pro, which hit the market in…

  • SPX500 Remains Subdued as Q3 Earnings Kick Off

    As Q3 earnings season kicks off the SPX500 is looking subdued. It has charted a lower peak followed by a lower trough. This puts the weekly chart into downtrend. The black 30-week EMA is showing signs of support, but the candlesticks will need to break above the green down sloping trendline to show conviction.


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