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In our blog
Newsquawk Week in Focus 19-23rd October 2026: Highlights include UK, Japan and Canada inflation, China Activity Data and Global Flash PMIs
US Market Wrap: Stocks hit as AI growth concerns weigh on sentiment
SNAPSHOT: Equities down, Treasuries steepen, Crude up, Dollar down, Gold flat
Source: Try Newsquawk free for 7 days
NAS100 (NASDAQ) DAILY: On the brink
Failure to regain 30K has setup a fresh run at the downside as the tech led selloff dragged other indices along with it ( COREWEAVE SHARES FALL 12% TO BRING WEEKLY SELLOFF TO 25%)
As the chart shows, the break of 30100 put 28755 (CFD) on the radar, a level bulls do not want to see broken as it would open a big void on the downside.
Despite booming earnings, Taiwan Semiconductor’s stock gapped down to a two-month low of 406 on Thursday before staging a comeback close near 421. Although it’s still resting 13% below October’s record-high of 486 the bulls managed to defend a vital Iong- term support trendline near 410, signaling that a bullish revival remains possible.
Newsquawk Daily US Opening News – 16th October 2026
(Right click on any image (or chart) to open a full screen in a new tab)
Bullish Key Reversal (after a downtrend): The week pushes to a lower low, then rallies strongly to close above the previous week’s close.
Vice versa for a Bearish Key Reversal.
While outside days happen frequently on daily charts, outside weeks are much rarer and carry significantly more weight on a weekly timeframe.
NOTE: To filter out false signals in currency trading, professional traders rarely trade a key reversal in isolation. They use a multi-variable confirmation system.
USDCAD DAILY: Outside week or reaction to a double top?
One way street up followed by consolidation and now an outside week (key reversal?) or a case can be made for a reaction to a double top as only a new high was made by 1 pip.
In any case, this leaves it dependent on 1.4150-54 holding to check the downside or face a void on the downside.
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