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US500 (SP500) 1 HOUR: Reprieve
Trend: Up but consolidating
Momentum: Trying to rebuild up
Getting a reprieve from the dip in U.S. bond yields but for momentum to build off higher lows (red llines) to the upside, a solid move above 7750 would be needed.
To keep this as consolidation rather than a further retracement, 7680 (low) needs to hold.
(Right click on any image (or chart) to open a full
Newsquawk US Market Wrap: Stocks sold as tech weakness drags Nasdaq lower
SNAPSHOT: Equities down, Treasuries flatten, Crude up, Dollar up, Gold down
(Right click on any image (or chart) to open a full screen in a new tab)
Newsquawk US Market Wrap: Stocks sold as tech weakness drags Nasdaq lower
SNAPSHOT: Equities down, Treasuries flatten, Crude up, Dollar up, Gold down
(Right click on any image (or chart) to open a full screen in a new tab)
XAUUSD (GOLD) 4 HOUR: Momentum stalls for now
Trend: Up Momentum: Stalled after a lower high
For momentum to shift down after a lower high (4435 vs 4450), 4311 would need to be broken.
Otherwise, it is consolidation with minor support at 4367 needing to hold to keep the focus on 4400+ and away from 4310.
US500 (SP500) 4 HOUR: Consolidation rather than. retracement?
Trend: Up
Momentum: Consolidating?
Failure to establish 7800= puts US500 on the defensive and dependent on 7716-36 holding to prevent 7698, the level bulls do not want to see broken, come on the radar.
Otherwise, let’s call it consolidation rather than retracement with a limited upside if trade is between 7700-7800.
Newsquawk US Market Wrap: Dollar sold after weak Retail Sales and UoM but yields rise
SNAPSHOT: Equities lower, Treasuries down, Crude up, Dollar down, Gold up
(Right click on any image (or chart) to open a full screen in a new tab)
XAUUSD 1 HOUR – Bounce did not go far enough
Trend: UP Momentum: Up but slowing?
Bounce from around 4313 support (low 4311) did not go far enough to restore a bid targeting the 4450 high. This leaves it consolidating within a 4300-4400 range where a move above 4402 would be needed to put bulls back in control.
EURUSD 4 HOUR – August range remains intact
I remember a time when the average daily EURUSD range exceeded 100 pips but in the current environment, that would be a huge trading day
August range to date: 1.1500-80 (80 pips)
One reason for a tighter range is the impact of various cross flows. Today, for example, EURUSD is firmer, giving EURUSD some support while weighing modestly on GBPUSD so keep an eye on this cross.
Crude oil update
IEA OMR: Oil Market in a 1.8mln bpd deficit in Q3 (prev. forecast 800k bpd), Sees World Oil Supply 1.27mln bpd lower than demand in 2026 (prev. 860k bpd)
2026 world oil supply to fall by 4.3mln BPD (prev. 3.7mln fall).
Although the market is projected to return to surplus towards the end of this year, risks remain substantial and the urgency of reopening the Strait has increased, as previously available inventory buffers are rapidly depleting. >Source: Try Newsquawk free for 7 days
XBRUSD (BRENT OIL) 4 HOUR (consolidating ahead of CPI and next ME headline)
NAS100 (NASDAQ) 4 HOUR Glass half empty or half filled?
Trend Short-Term up
Momentum: Consolidating ahead of US CPI
Glass half full: Maintaining a bid while above 29K that keeps 30K on the radar.
Glass half empty: Failure so far to not only test 30K but not confirm other indices with a new record high (30776).
US500 (SP500) 4 HOUR: Taking a breather or out of steam?
Trend: Major Up
Momentum: Consolidating
How markets close Wednesday, more than the initial reaction to US July CPI, will give a clue whether this is still consolidation, a retracement or time for a fresh push higher.
Taking a broad look shows wide range at 7600-7800 with 7700 as the bias setting midpoint.
If above 7700, then keeps a bid in consolidation.
If below 7700, then retracement.
If above 7800, then no longer a breather and a new record high.
US500 (SP500) 4 HOUR: Taking a breather or out of steam
Trend: Major Up
Momentum: Consolidating
Barring a sharp fall, the 4-hour trendline seems destined to be broken with sideways trading.
As noted, currently consolidating with a bid while above the midpoint (i.e. 7700) of a 7600-7800 range. Below 7700 would suggest a move out of steam.
Market Update: OIl up, no big ripple effects
USDCAD back below 1.3950 (holding above 1.3925, next target still 1.3900) as it follows firmer crude oil. Forex trading mixed despite higher bond yields, JPY remains the underperformer, firmer GBP outperforms, EURUSD unable to shake a focus from 1.1550
US stocks on sidelines holding a bid but consolidating.
Caught my eye: Oil in U.S. Strategic Petroleum Reserve falls below 300 million barrels, lowest since 1983
GER40 returned to consolidation after marginally surpassing its previous high to set a new all-time 📈high at 26,444 on Friday. With the index now rotating near July’s support trendline and the 20-period EMA, the 📈bulls could stay in play, while the market structure itself seems to be resembling a bullish cup-and-handle pattern
Market Update: Oil up but so far few ripple effects
XBRUSD holding its bid after an opening gap higher but yet to see much ripple effects elsewhere
EURUSD consolidating after extending its range to 1.1500-80. 1,1550 likely pivotal in setting its tone while wihin this range.
US500 consolidating between 7700-7900
Mid-day U.S. Market Update
Heading into the weekend traders likely to end it on a cautious note with firmer crude oil indicating geopolitical risk vs. weaker US data, the latter not enough to see follow through on the initial dip in yields (wider yield curve)
For FX traders, 1.1550 so far keeping a bid but needing 1.1560+ to encourage higher.
As indicated earlier, stocks consolidating but maintaining a bid while above 7700 (and NAS above 29K).
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