$BTC keeps holding its key support (a price area where buyers step in to defend against declines) despite repeated hits, but it’s chopping in a range where traders are being liquidated on both sides, so waiting for a clean break is better.
Natural gas continues to decline and is oversold, with oil and natural gas notably moving in opposite directions.
Silver is lower again, down more than 15 percent over the past month (Trading Economics), at an important trend line where a short term bounce is possible though downside risk remains. Gold is roughly flat at its lowest in two months, down about 6 percent over the past month (Trading Economics).
Broadcom is approaching an important level where an opportunity could set up. American Express is lower on earnings, with softening spending among wealthier clients and rising credit card delinquencies in the upper tier as warning signs. Western Digital fell after earnings before recovering and is now slightly down.
Oil is higher again after Brent closed up 4 percent yesterday at its highest since May (Yahoo Finance), averaging roughly 95 dollars this year and burdening consumers.
The biggest shock came in yields yesterday, with the US 10 year falling roughly 17 to 20 basis points to around 4.95 percent, its largest one day drop since March 2023 (CNBC, Yahoo Finance), yet the market still fell because yields dropped on economic concerns rather than cooling inflation.
The S&P 500 held its trend line yesterday but futures are below it today, and a break could bring further declines, while the tech index is showing relative strength.
This is a market observation only, so base your trading decisions on your own research and risk tolerance.
#PepeJumps14%ToLeadAltcoinRebound #SwedishCentralBankUrgesEKronaReview #BitcoinHashrateHitsSevenMonthHigh
Natural gas continues to decline and is oversold, with oil and natural gas notably moving in opposite directions.
Silver is lower again, down more than 15 percent over the past month (Trading Economics), at an important trend line where a short term bounce is possible though downside risk remains. Gold is roughly flat at its lowest in two months, down about 6 percent over the past month (Trading Economics).
Broadcom is approaching an important level where an opportunity could set up. American Express is lower on earnings, with softening spending among wealthier clients and rising credit card delinquencies in the upper tier as warning signs. Western Digital fell after earnings before recovering and is now slightly down.
Oil is higher again after Brent closed up 4 percent yesterday at its highest since May (Yahoo Finance), averaging roughly 95 dollars this year and burdening consumers.
The biggest shock came in yields yesterday, with the US 10 year falling roughly 17 to 20 basis points to around 4.95 percent, its largest one day drop since March 2023 (CNBC, Yahoo Finance), yet the market still fell because yields dropped on economic concerns rather than cooling inflation.
The S&P 500 held its trend line yesterday but futures are below it today, and a break could bring further declines, while the tech index is showing relative strength.
This is a market observation only, so base your trading decisions on your own research and risk tolerance.
#PepeJumps14%ToLeadAltcoinRebound #SwedishCentralBankUrgesEKronaReview #BitcoinHashrateHitsSevenMonthHigh
