[Mtl JP]

Sauve qui peut
–
cnbc f/page
“Harris leads Trump, Biden on who voters trust with the economy, new poll finds”

[michael Calif]

nearby BTC furues are headed higher; any sharp decline presents another opportunity to get Long.    :gtwo3

[michael Calif]

nearby Gold futures should peak and turn lower no later than Thursday.    :gtwo3

[Belgrade Bobby]

XAUUSD – Gold Weekly Chart
Supports : 2415.00 , 2395.00 & 2300.00

Resistances : 2460.00 , 2475.00 & 2490.00

Continue reading…..

[Belgrade Bobby]

GBPUSD Daily

Resistances : 1.27750 , 1.27850 & 1.28050

Supports : 1.27450 , 1.27250 & 1.26750

After breaking below the Channel Trend line, the same one is now acting as a Resistance -1.28050

It doesn’t mean that we’ll be watching Bears dancing, as it might be just a correction, but if that resistance shows strength, we should be falling one more leg…all the way to the Major Support at 1.24150.

That development can take about 4 days to happen….so it can be traded both ways ( as it is always the case with the Demon )

[Belgrade Bobby]

EURUSD 4H

Supports : 1.09100 , 1.09000 & 1.08800

Resistances : 1.09300 , 1.09450 & 1.09650

After quite an action early this week (Monday-Tuesday ) market decided to let it be…

Very lame …

First thing on Monday it should first test the supports and depending on the outcome try Up again.

But it might be just my wishful thinking…it can react like a dead horse after all…we’ll see

[GVI Forex 2]

How’s this…

Range for the week — 141.68-147.90 (622 pips)

USDJPY Aug 9 close 146.63 vs. Aug 2 close 146.54, UP 9 PIPS on the week!

[GVI Forex 2]

How’s this…

USDJPYAugust 9 close 146.63 vs. August 2 close 146.54, UP 9 PIPS on the week!

[GVI Forex 2]

The week below has a full calendar in markets that remain hyper sensitive to news… see full previews

Newsquawk.com Week Ahead12th-16th August 2024: Highlights include US CPI and Retail Sales; UK CPI, Jobs and Retail Sales; Aussie Jobs; RBNZ; China activity data and Japan GDP

 

[Belgrade Bobby]

Nvidia – NVDA
As Nvidia Leads Magnificent 7 Volatility, Analyst Says These Mega-Caps Are Poised To Outperform Small-Caps

[Belgrade Bobby]

Nasdaq – NDX
Nasdaq, futures inch up on dovish Fed comments after jobs data
Expedia gains after Q2 profit beat

Elf Beauty falls on dour FY sales, profit forecast

Futures: S&P 500 up 0.1%, Nasdaq up 0.2%, Dow flat

 

[Belgrade Bobby]

SPX: S&P 500 Logs 2.3% for Best Day Since 2022 as Jobs Data Offsets Recession Worries
S&P 500 gains big, Nasdaq, Dow join.

Jobless claims surprise to the downside.

Markets slosh around in thin summer trading.

The S&P 500 posted a huge win on Thursday as emboldened investors rushed in to scoop up battered shares from technology to banking and beyond. The broad-based index logged a 2.3% increase for its best day since November 2022. The powerful rally was made complete when the Dow Jones and the Nasdaq joined, clocking out with advances of 1.8% and 2.9%, respectively.
Jobless claims for the week ending August 3 totaled 233,000, undershooting consensus views of 240,000. In other words, fewer people than expected filed for unemployment benefits. The data was enough to send stocks flying — jobless claims are used as a proxy for layoffs and this one report eased concerns over an economic recession and offered some hope that the dismal July jobs figure might be a one-off event, and not a trend.

[Belgrade Bobby]

USDJPY Daily

Pair is within the  brackets of 142.100 & 148.200

USD/JPY: Dollar on Track for Fourth Straight Day of Gains as Carry Trade Almost Unwound
Yen pares gains to dollar.

Exchange rate tops ¥147.50.

Carry trade unwinding at 75%.

Popular carry trade has been unwinding, offering dollar bulls a chance to pocket some gains as yen moves to the downside.

The  USDJPY pair is treading volatile waters this week. On Thursday, the pair logged its third straight day of gains and was flaunting green Friday morning, en route for a fourth winning session. The popular forex trade kicked off the week with a massive selloff, which — added to the total drop over the past four weeks — nearly erased all dollar gains for the year. Earlier today, the pair jumped above ¥147.50 before sliding below the mark.

[Belgrade Bobby]

Bitcoin – BTCUSD

BTC/USD: Bitcoin Rockets 15% as Good Jobs Data Ignites Post-Selloff Bargain Hunt

Bitcoin prices rally 15%.

Ether prices join rally.

Traders hunt for bargains.

Crypto enthusiasts snapped up tokens on discount left and right after jobless claims offered glimmer of hope that the economy may not be that bad.

[Mtl JP]

in time
–
currently stocks carry a negative bias
you know … “Sell in May and go away,”

approximately until mid-sept

[SF Monedge]

EU futures are presently exactly where the Asian session opened last night.  A complete ____ after all is said and done.  What has my attention entering the weekend is Ukraine forces entering Russia and killing over 400 troops, causing major destruction of Russian military assets, and sinking a Russian nuclear attack submarine.  That and the oh so nice people in support of Palestinian terrorists.  That and a Nordic undersea communications cable cut with a saw device almost surely by Russia.

And the people in support of Palestinian terrorists and open borders.

One crazy person gets into the grid or hacks something major and its on.  In a big bad way.

And there are those who think they can be negotiated with.

[SF Monedge]

JP – S.P should see 5410 in time.  That is an area where volatility should be expected in my view.

[Mtl JP]

History report
cnbc f/page:
–
“S&P 500 rises, sharply curtails week’s losses in major comeback from rout”
“Markets no longer think the Fed needs to be as aggressive with interest rate cuts”

[GVI Forex 2]

JP

It is the trader treats a mindless market as its enemy.

[Mtl JP]

re “The Market Isn’t Your Enemy”
anyone up for a discussion ?
–
I have an opposite view about the market not being an enemy.

If only for the simplest of reasons that the market is not a give-give (nor give-n-take) situation
as a naive would-be wide-eyed eager entrant player could complete overlook the ferocious voracious appetate for the newby.
—-
I was reminded of the above by the coyote / turkey post below

[Mtl JP]

coyote 1 turkey 0
–
turkey living up to (or is it down) its turkey as an insult.
equally bad male or female turkey

[SF Monedge]

JP – I watched a coyote kill a wild turkey on the property early this morning.  That turkey should have maintained risk aversion regardless of payment.

[Mtl JP]

as long as “common sence” is profit-taking side withought having to pay

[SF Monedge]

Balancing more on the risk averse side might make common sense today.

[Mtl JP]

GBP 1.2770

priceaction is butting against the down-sloping t-line drawn off july 17high on the daily

one could speculate that IF gbp closes above yesty’ 1.2750 closing it ll suggest further uP

[Mtl JP]

GBP 1.2770

holding s/t Res
I was undecided despite the current slightly predominanct uP bias
so just a msing atm, sorry for not offering better biased view

[Mtl JP]

usdcad at 1.3726 right now is teasing Support, break down opens 1.3675

taking a possy this or that way is the hallmark of FX trading’s democratic expression

[Mtl JP]

DLR backing down ever so slightly atm

see if the very s/t range price limits hold

[GVI Forex 2]

It looks like a quiet Friday finish to a choppy week dominated by position squaring/adjustments.

Note Japan is closed on Monday.

[GVI Forex 2]

EWURGBP bounce off .8550 has given EUEUSD a modest bid while GBPUSD has backed off its earlier high (GBPJPY softer as well).

So it looks like a quiet Friday finish to a choppy week dominated by position squaring/adjustments. Note Japan is closed on Monday.

The focus will be more on stocks than fx so it seems.

[Author]

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