【HiLo Big Gray Brother Morning Brief】10/30 · Gold and silver weaken, QQQ falls below its consolidation range (2/2)
In commodities, XAU continued to trend lower amid volatility. Although a low signal appeared this week, there is still no clear sign of a rebound, and it will take time to form a base. XAG weakened and set a new low for the year. Whether gold will also go on to test lower support levels remains to be seen.
In U.S. equities, QQQ failed to break above 730 this week and continued to retreat. It is now near 700, showing signs of breaking below its previous consolidation range. Stronger support can be watched near 660, and the risk of a near-term correction should be kept in mind.
Recent third-quarter results and outlooks from tech companies have repeatedly triggered market volatility. Alphabet shares fell about 12.6% on Thursday; after Intel released its outlook, its after-hours losses briefly widened. Tech stocks may continue to weigh on the indexes.
#HiLo大灰哥早报 #美股 #QQQ #黄金 #XAU
In commodities, XAU continued to trend lower amid volatility. Although a low signal appeared this week, there is still no clear sign of a rebound, and it will take time to form a base. XAG weakened and set a new low for the year. Whether gold will also go on to test lower support levels remains to be seen.
In U.S. equities, QQQ failed to break above 730 this week and continued to retreat. It is now near 700, showing signs of breaking below its previous consolidation range. Stronger support can be watched near 660, and the risk of a near-term correction should be kept in mind.
Recent third-quarter results and outlooks from tech companies have repeatedly triggered market volatility. Alphabet shares fell about 12.6% on Thursday; after Intel released its outlook, its after-hours losses briefly widened. Tech stocks may continue to weigh on the indexes.
#HiLo大灰哥早报 #美股 #QQQ #黄金 #XAU
