$BTC dropped below its key support (a price area where buyers step in to defend against declines) over the weekend and is roughly flat today; weekend moves carry less weight given thin volume, so today is the real test, and failing to reclaim that level could confirm a breakdown.
Natural gas is attempting a bounce and is heavily oversold, with a longer term story developing around new data centers potentially using natural gas to generate their own power. Silver is weak and near its important support. Gold is bouncing slightly off its major support, though the broader bias won't change until it clears its descending trend line. Nvidia is at its important ascending trend line, and a confirmed close below would end its uptrend. CoreWeave remains under pressure and is approaching an important level. The VIX is climbing a little and works as a contrarian indicator. Oil is down about 2 percent as no major new developments emerged over the weekend and it was rejected at its resistance (a price area where selling pressure tends to build), which is supporting the market. The US 10 year yield is roughly flat, and sideways is the better outcome for markets. The S&P 500 is slightly higher and remains within its bull flag (a brief consolidation after a sharp rally).
The biggest story is Brazil, where Lula won the runoff with 51.8 percent to secure a fourth term, a major surprise for markets, sending Brazil's ETF down roughly 25 to 27 percent in premarket and a major oil company down 20 percent (CNBC, Benzinga). This week brings the Fed decision on Wednesday, PCE data on Thursday, and several major earnings. This is a market observation only, so base your trading decisions on your own research and risk tolerance.
Natural gas is attempting a bounce and is heavily oversold, with a longer term story developing around new data centers potentially using natural gas to generate their own power. Silver is weak and near its important support. Gold is bouncing slightly off its major support, though the broader bias won't change until it clears its descending trend line. Nvidia is at its important ascending trend line, and a confirmed close below would end its uptrend. CoreWeave remains under pressure and is approaching an important level. The VIX is climbing a little and works as a contrarian indicator. Oil is down about 2 percent as no major new developments emerged over the weekend and it was rejected at its resistance (a price area where selling pressure tends to build), which is supporting the market. The US 10 year yield is roughly flat, and sideways is the better outcome for markets. The S&P 500 is slightly higher and remains within its bull flag (a brief consolidation after a sharp rally).
The biggest story is Brazil, where Lula won the runoff with 51.8 percent to secure a fourth term, a major surprise for markets, sending Brazil's ETF down roughly 25 to 27 percent in premarket and a major oil company down 20 percent (CNBC, Benzinga). This week brings the Fed decision on Wednesday, PCE data on Thursday, and several major earnings. This is a market observation only, so base your trading decisions on your own research and risk tolerance.