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In the first half of November, the GER30’s RSI broke above the green downsloping green trendline at 1. This suggested that positive momentum was expanding. This was confirmed by the index crossing above its black 30-week EMA and the EMA’s direction shifting upwards at 2. These are regarded as positive…
HKG33 faces pressure in a mixed month, after today’s Manufacturing PMI showed further contraction, highlighting China’s fragile economic state
The SPX monthly chart has charted a higher trough (HT) followed by a higher peak (HP). This denotes that the SPX500’s primary trend is an uptrend. With only 3 days left until the end of the month, the SPX 500 is up over 8.8% for November. This has resulted in a large blue monthly candle (candle 1). Candle 2 is a bullish reference candle i.e. it has the lowest low…
The index is cautious after the UK Chancellor’s “Autumn Statement for Growth”, which could make the BoE’s struggle to control inflation harder
The tech-heavy index dropped yesterday after the Fed’s minutes showed no discussion around rate cuts, but finds support today, boosted by another blowout quarter by AI facilitator Nvidia
The daily charts do suggest that a near term correction may be a risk.
The tech world reacted positively to Microsoft’s handling of the OpenAI surprise leadership change and now awaits today’s quarterly results of AI enabler Nvidia, with the stocks of both hitting record highs
The SPX500 is up over 7.5% for November, with almost two weeks left of the month. A good portion of the appreciation came on Tuesday, 14 November, when the CPI data was released, coming in better than expected. This has led to thinking that the current Fed hiking cycle has likely peaked.
Shares of Chinese tech giant Alibaba slump after abandoning plans to spin its Cloud unit due to US chip restrictions, weighing on HKG33
The US index posted one of its best days of the year on Tuesday, after the CPI report showed inflation moderation, reinforcing market optimism for peak rates
The UK index lacks firm direction as it digests this week’s wage figures and the cabinet shake-up, while awaiting Wednesday’s pivotal CPI inflation report
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