- This topic has 28,382 replies, 54 voices, and was last updated 47 minutes ago by .
-
Trading today is like the day after an earthquake
As opposed to a tsunami or hurricane, an earthquake comes without a warning and thus comes as a surprise.
This can be likened to yesterday’s price action where a surprise post by the US President immediately reversed price action in crude oil , whose plunge had ripple effects across other global markets.
After an earthquake, the focus is on assessing the damage and whether there are any aftershocks.
In the case of trading, the damage to accounts was caused by immediately wiping out stops yesterday (with a lot of slippage) but so far no aftershocks (more headline news). This leaves markets in a state of limbo waiting for the next headline driven move but restrained without any nearby key stops to go after.
US PRE-MARKET MOVERS: APO, JEF, JHG, SFD, CNM, CNXC, RL, CRWV
(Right click on any image (or chart) to open a full screen in a new tab)
Newsquawk Daily US Opening News – 24th March 2026
(Right click on any image (or chart) to open a full screen in a new tab)
XBRUSD (BRFENT OIL) UPDATE
- The move back above $100 is setting a modest risk off mood in global markets while price action is consolidating within yesterday’s wild 96.09-114.38 range.
- Meanwhile, reaction to headlines more than technicals continue to drive the price action where $100 will set the trading bias and act as a risk on/risk off indicator.
- Note there were reports yesterday that the Japanese government had left the door open to intervening in crude oil futures. However, it is a big differewnce between opening the door and actually stepping through it.
XBRUSD 4 HOUR CHART
XAUUSD (GOLD) UPDATE
With price action consolidating between 4099-4512 there are a couple of scenarios that may unfold:
- If 4304 holds and 4512 is firmly broken, then short-term momentum turns up targeting 4735.
- If 4512 holds and 4304 is broken, then 4099 is back on the radar.
In any case, 4735 is the level that would need to be broken to negate the broader downside risk.
XAUUSD 4 HOUR CHART
Forex Market Snapshot
- The dollar is trading firmer but well below yesterday’s highs in defensive trading driven by conflicting headlines that can best be described as creating diplomatic confusion.
- AUD and NZD are both underperforming as markets trade with a modest risk off tone.
- XBRUSD climbing back above $100 (last $102,40) after a wild whipsaw day yesterday and that might be an understatement.
- There was little reaction to EZ Flash PMIs. US S&P Global Flash PMI is due (seen as not as important as the ISM PMI).,
- Otherwise, another headline watching day as global markets await clarity, torn between hoping for the best while expecting the worst.
NZDUSD (4HR)
On the other hand, the New Zealand dollar slipped 0.1% to $0.5825 after a 0.8% drop on Friday trimmed its weekly gain to about 1%. NZDUSD continues to trade within a broader downward trend. However, the pair has begun to stabilize, holding above a key support zone after multiple tests.
Focus now turns to a speech by Anna Breman, as markets have sharply repriced expectations toward nearly 90 basis points of tightening this year, despite the Reserve Bank of New Zealand previously signaling that even one rate hike was not yet certain
Support is holding near 0.5775 and resistance around 0.5880
AUDUSD (4HR)
After the early morning news.. AUDUSD saw brief volatility but ultimately returned to its prior trend. The pair remains under downward pressure within a short-term bearish move. However, key support levels are still holding. A stronger push lower is needed to break these supports and confirm further downside.
Supports and resistance can be seen at 0.6945 and 0.7050
Investors are now focused on the upcoming Wednesday inflation data
A must read article after another headline driven day
News Algos in Trading: Why Markets Suddenly Spike During Geopolitical Crises
Anyone trading during the current geopolitical crisis has likely noticed sudden spikes and dips appearing out of nowhere, leaving traders asking the same question: What’s the news?
As traders know all too well, it is often the reaction to the news rather than the news itself that matters most. Sometimes the market’s response is logical. Other times it seems completely irrational. When that happens, traders can feel like they are the only sane person in an insane asylum.
News Algos in Trading: Why Markets Suddenly Spike During Geopolitical Crises
NAS100 (NASDAQ) UPDATE
- Similar to US500, to make the strong rebound off 23561 (high 24550) more than a relief rally, moves above 24550 and 24986 would be needed.
- On the downside, needs to hold above 24000 to keep 23562 from being exposed.
- Using XBRUSD $100 as a risk on/off indicator, watch the reaction to news and how Brent trades vs this pivotal level.
NAS100 4 HOUR CHART
US500 (SP500) UPDATE
- For the strong bounce off 6435 (high 6697) to be more than a relief rally, a firm move above 6697 and 6761 would be needed.
- No obvious supports given the straight line up so expect 6500-6600 to act like a no man’s land, needing to hold above the bottom end to contain the downside.
US500 4 HOUR CHART
Markets seems to be trading on hope
(Right click on any image (or chart) to open a full screen in a new tab)
Gold Slides as Correction From Record Highs Continues
Liquidation in gold futures has picked up since the start of the conflict in Iran, making it now 18% that gold has fallen since setting an all-time record of $5,354.80 a troy ounce in late January, according to data from FactSet.
Gold is down 4.7% to roughly $4,360/oz Monday.
U.S. Stocks Rebounding As Trump Backs Down On Threats To Attack Iran’s Power Plants
Stocks have moved sharply higher during trading on Monday, regaining ground following the nosedive seen over the past few sessions.
Currently, the major averages are off their highs of the session but still posting strong gains. The Dow is up 958.28 points or 2.1 percent at 46,535.75, the Nasdaq is up 452.21 points or 2.1 percent at 22,099.82 and the S&P 500 is up 125.19 points or 1.9 percent at 6,631.67.
Dow Jones Industrial Index
Why are Bitcoin, Ethereum and XRP Prices Rallying Today?
Bitcoin surged past $71,000, Ethereum climbed 5% and XRP jumped 3.4% on Sunday as news that the United States and Iran had held direct talks toward a full resolution of Middle East hostilities sent shockwaves through global markets and triggered one of crypto’s strongest single-day rallies in months.
The total crypto market cap jumped 3.64% to $2.45 trillion, adding roughly $85 billion in value within hours of President Trump confirming the talks had taken place.
March 23 Pre-Market Earnings Release Stocks
(LAR) Lithium Argentina’s Cauchari-Olaroz achieved record production and low costs in 2025, with significant cash flow and a strengthened balance sheet. The stock was ahead 8.9% at $6.29, widening the advance so far this year to 11%.
(WRD) Record 2025 revenue grew 90% year-over-year, driven by the expansion of Robotaxi and Robobus services, alongside strong international growth and improving margins. Following the start of trading, shares were highly volatile, experiencing a swing of about 12% and eventually settling at around $6.34
- You must be logged in to reply to this topic.