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10/06/21 10:53
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For more up to date news on how markets will open, the latest earnings and economic news, watch IGTV live in the platform at 07:30am UK. Today’s coverage: Indices: After gains on Wall St, where techs outperformed, and in Asia overnight, Europe expected to open higher. Last night the Dax climbed to a new 50wk high FX: USD loses ground after Fed… now comes the BoE and ECB rate decisions Equities: META last night up 25% after cost cuts & share buyback. Earnings this morning SHEL BT DBK. This evening AAPL AMZN GOOG F. BP rises oil exposure away from renewables Commods: Gold spiked to a new higher high last night after the Fed sent the USD down. Oil down heavily at new 3wk lows -
By tradinglounge · Posted
Elliott Wave Analysis TradingLounge Daily Chart, 2 February 23, NEO/U.S.dollar(NEOUSD) NEOUSD Elliott Wave Technical Analysis Function: Follow trend Mode: Motive Structure: Diagonal Position: Wave 5 Direction Next higher Degrees: Sub-wave of Wave C Wave Cancel invalid Level: 5.96 NEO/U.S.dollar(NEOUSD) Trading Strategy: NEO has recovered well from the 5.96 level, but even so, the price is still below the MA200, which may still be under pressure from selling pressure. And there is a reversal chance in wave 2 and wait for an opportunity to join the trend again once wave 2 completes. NEO/U.S.dollar(NEOUSD) Technical Indicators: The price is below the MA200 indicating a downtrend. The wave oscillators above Zero-Line momentum are bullish. TradingLounge Analyst: Kittiampon Somboonsod Elliott Wave Analysis TradingLounge 4H Chart, 2 February 23, NEO/U.S.dollar(NEOUSD) NEOUSD Elliott Wave Technical Analysis Function: Follow trend Mode: Motive Structure: Diagonal Position: Wave 5 Direction Next higher Degrees: Wave (1) of Motive Wave Cancel invalid Level: 5.96 NEO/U.S.dollar(NEOUSD) Trading Strategy: Neo Coin is in Impulse Wave structure, in an uptrend wave 5 is likely to end. Price is reversing in wave (2) larger degrees. Wait for wave (2) complete to rejoin the trend. NEO/U.S.dollar(NEOUSD) Technical Indicators: The price is above the MA200, indicating an uptrend. The wave oscillators above Zero-Line Bullish momentum. -
By tradinglounge · Posted
Market Drivers in January 2023 Several factors contributed to the strong performance of US markets in January 2023. One of the key drivers was the continued rollout of COVID-19 vaccines, which boosted investor confidence and led to a reopening trade. The progress in vaccine distribution and declining number of daily cases of COVID-19 have paved the way for a return to normalcy and a resurgence in economic activity. Another factor that contributed to the market's strong finish was the passage of a new stimulus package by the Biden administration. The package, worth $1.9 trillion, includes direct payments to individuals, extended unemployment benefits, and aid to small businesses. This was seen as a positive development for the economy, as it would provide a much-needed boost to consumer spending and business activity. Key Sectors in January 2023 In January 2023, several key sectors contributed to the overall gains in the US markets. The technology sector was a standout performer, with companies like Apple, Microsoft, and Amazon seeing significant gains. This was due to the continued growth of e-commerce and remote work, which have become increasingly important during the pandemic. The healthcare sector also performed well, with pharmaceutical companies and vaccine makers seeing significant gains. This was in response to the progress made in the fight against COVID-19 and the continued growth of the biotechnology industry. The financial sector was another key contributor to the market's strong finish, with banks and insurance companies posting gains. This was due to the positive economic outlook and the expectation of higher interest rates in the coming months. Market Outlook for February 2023 and Beyond While the strong finish in January 2023 is a positive sign for the US markets, there are several factors that could impact the market's performance in the coming months. The biggest risks include the ongoing COVID-19 pandemic and the potential for rising inflation and interest rates. Despite these risks, the market outlook for February 2023 and beyond is generally positive. With the continued rollout of vaccines, the passage of a new stimulus package, and the progress made in the fight against COVID-19, investors are optimistic about the future. The technology sector, healthcare sector, and financial sector are all expected to continue performing well, and the overall market is expected to see steady growth in the coming months. Conclusion In conclusion, January 2023 saw US markets close out with gains, reflecting a bullish sentiment among investors. The key drivers of the market's strong performance included the continued rollout of COVID-19 vaccines, the passage of a new stimulus package, and strong performance in several key sectors, including technology, healthcare, and finance. While there are several risks to the market's performance in the coming months, the overall outlook remains positive and investors are optimistic about the future. Analyst Peter Mathers TradingLounge™ Australian Financial Services Licence - AFSL 317817 Source: tradinglounge com
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