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Introduction Further to our previous article, the US10Y has failed to break through its neckline. I.e, the inverse head and shoulders has not been completed. An inverse head and shoulders is a reversal pattern and if completed suggests higher yields ahead. Thus, the failure to complete proposes the potential for a different paradigm. Below, we have a reference trough followed by a reference peak. Thereafter, a higher trough followed by…
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Weekly Chart The NAS100 weekly chart retains its bullish bias. The shorter-term green moving average is above the mid-term orange moving average, and the mid-term orange moving average is above the longer-term red moving average. This is a bullish formation. Since shortly after the pandemic lows, the index stochastic has also oscillated around its 70th percentile (aqua rectangle), suggesting the presence of underlying bullish momentum. This matched with index appreciation…
The US index registered a considerable rebound on Monday as risk tones normalized, but today sentiment takes another nosedive, sending US30 lower
Weekly Context Below we have added a triple moving average system to the SPX500 weekly chart. Despite the decline last week, the shorter-term green moving average is above the mid-term orange moving average, and the mid-term orange moving average is above the longer-term red moving average. Last week's pullback took place within this longer-term bullish formation. The weekly stochastic is above 80 and suggests an underlying bullish momentum (aqua arrow).…
The Primary Trend The EURUSD monthly below (chart 1) has charted a lower peak followed by a lower trough - the classical definition of a downtrend. Due to the longer time scale, the primary trend for EURUSD is down. Until there is a change in the pair's primary trend, impulse moves down will be stronger than corrective moves up on the lower time frames. The stochastic is heading towards the…
US10Y At Neckline Source: www.tradingview.com Past Performance: Past Performance is not an indicator of future results. The US10-Yr Treasury yield is up sharply for the week, currently trading at 1.68%. The nominal rate is now trading at the neckline of the inverse head and shoulders pattern. A break above the neckline will effectively complete the reversal pattern and signal that the market is pricing in higher real yields, inflation, or…
Daily Chart Past Performance: Past Performance is not an indicator of future results. The NAS100's momentum has declined, as per the slow stochastic slipping below 80 (blue rectangle). This, as the index closed lower over the last two consecutive days. However, we do note that yesterday's candle closed well off of its low. I.e., the bears lost control at the low point as bulls took over. Today's price action will…
The Chinese electric vehicle maker released solid financial results for the third quarter, earlier today, with the stock rallying at the beginning of trading in the US
Facebook announced on 28 October that it had changed its name to Meta Platforms. Please note that the stock ticker will change from FB to MVRS, effective 1 December. The company is currently trading at a PE of 24.4. This is lower than the Nasdaq multiple of 36.08. Past Performance: Past Performance is not an indicator of future results. The histogram denotes the company's ROIC (calculated using NOPAT, net PP&E…
Zoom announced its financial results for the third quarter of Fiscal Year 2022 on Monday November 22, after US markets had closed
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