Market Update & Analysis 📊📉
* Bitcoin (BTC): Bitcoin 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 & Oil: Natural gas continues to decline and is oversold, with oil and natural gas notably moving in opposite directions. 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.
* Silver: 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: Gold is roughly flat at its lowest in two months, down about 6 percent over the past month (Trading Economics).
* Stocks & Earnings:
* Broadcom: Approaching an important level where an opportunity could set up.
* American Express: 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.
* US 10-Year Yields: 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.
* S&P 500 & Tech Index: 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.
Disclaimer: This is a market observation only, so base your trading decisions on your own research and risk tolerance.
* Bitcoin (BTC): Bitcoin 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 & Oil: Natural gas continues to decline and is oversold, with oil and natural gas notably moving in opposite directions. 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.
* Silver: 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: Gold is roughly flat at its lowest in two months, down about 6 percent over the past month (Trading Economics).
* Stocks & Earnings:
* Broadcom: Approaching an important level where an opportunity could set up.
* American Express: 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.
* US 10-Year Yields: 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.
* S&P 500 & Tech Index: 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.
Disclaimer: This is a market observation only, so base your trading decisions on your own research and risk tolerance.