US500 1-HOUR CHART (for those using SPX500 the rates may differ but chart patterns should be similar)
There seems to be a lot of interest in stocks today so looking through my charts the one-hour chart stood out with a trendline/resistance coinciding at this hour. This is the closest key area on the upside.
With quarter-end approaching, rebalance and end-of-quarter flows will dominate (note US stocks are closed on Friday)
This is a very timely article posted yesterday in our blog
With USDJPY setting a new 32-year high, traders are keeping one eye out for any hints of intervention, This has seen Japanese officials step up verbal intervention in an effort to contain or at least deter the USDJPY from making a run at another new high.
Trader Alert: Will the Bank of Japan Intervene and Does Forex Intervention Work?
Summary
Yen slips to 34-year low at 151.97 per dollar
Finmin Suzuki says authorities could take ‘decisive steps’ Phrase was used ahead of previous intervention in Oct 2022
Analysts warn yen weakness in yen risks domino effects
Japan makes strongest intervention warning as yen hits 34-year low
same old same old “news” same old same old blabla
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Bank of Canada sounds alarm on low productivity, cites inflation risks
EXPERT
“who has been studying initial public offerings (IPOs) for over 40 years”
and still as befuddled as newborn calf eyeballing newly painted barn door
Clearly very early (pre-stock market open) currencies and other markets were inconsistent, as was the case yesterday. At the moment 10yr yield and Eur are both negative, which is not consistent. The activity across markets this week has been as if to shake off the prior week’s intensity. Quarter end results and other issues as well.
NAS100 4 HOUR CHART – Consolidating for now
As I have said, if using CFDs, pricing can vary between brokers, even for the same symbols so look at the chart pattern as it should be similar to what you are showing on your chart.’
Looking at this chart, 18,000 seems to be the level that will keep a bid under this market as long as it holds.
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