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SELL NOW ๐ฝ Nasdaq (NAS100 / US100) ๐บ๐ธ
โบ We expect the current recovery on Wall Street to be exhausted and that we will see further profit-taking. We also see European equities testing the key levels (DAX 18000 / CAC 7500) or falling slightly below them. Wall Street is still trading significantly higher than in pre-market trading. We see the S&P 500 above 5420 and the Nasdaq near today's highs at 15650, where we SHORT.
โบ Michigan Consumer Sentiment came in much worse than expected at 65.6 (down from 69.1 in May) and was not only below expectations of 72, but worsened instead of improving. Michigan inflation expectations (of consumers) remain high.
โบ The Dow Jones - less tech-heavy - has already given back most of the recovery gains and is currently retesting 38400. We also see that the S&P 500 is not yet back at the ATH - it is again a few big tech stocks that are leading the Nasdaq 100 higher. Market breadth is not good, which will probably ultimately lead to further profit-taking.
๐ฃ๏ธ Tip: Multiply your usual trade size by ~ 6 - 8 (600% - 800%) when trading the Nasdaq (NAS100).
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๐ค๐ค๐ค๐๐ฏ๐
1๏ธโฃ9๏ธโฃ6๏ธโฃ5๏ธโฃ0๏ธโฃโฌ๏ธ
๐ฅ VT Markets (๐ฌ๐ง๐ณ๐ฟ๐ช๐บ๐)
๐ฅ Vantage (๐ฆ๐บ๐ณ๐ฟ๐ฌ๐ง๐ช๐บ๐) <- NEW
๐ฅ PU Prime (๐จ๐ฆ๐ฆ๐บ๐ณ๐ฟ๐ฌ๐ง๐ช๐บ๐)
๐ฅ Admiral Markets (๐ช๐บ๐ฆ๐บ๐ณ๐ฟ๐)
๐ฅ Libertex (๐ช๐บ๐)
โก๏ธ LIGHTNING RAPID UPDATE ๐ฐ
Nasdaq (NAS100 / US100) ๐บ๐ธ
SL ๐ @: 19577.30 ๐
TP โ
@: 19622.30 ๐
We readjust again slightly - and secure larger profits - but want to close soon.
๐ ROBโS DAILY UPDATE ๐
โผ๏ธ Investors rush into safe havens as political turmoil in France deepens
Strong concerns about France are driving the markets in Europe and are also having a negative impact on global market sentiment, which is also increasing demand for safe havens such as bonds, gold and the USD. European equities are heading for their worst week since at least October, and the French CAC 40 index has even lost all its gains for the year.
We are also seeing the effects of heavy profit taking in Europe to a lesser extent in New York, where Wall Street is opening weaker after hitting a new record high every day this week (S&P 500 & Nasdaq 100).
Markets are increasingly concerned after French President Emmanuel Macron announced early parliamentary elections following his party's defeat in the European Parliament elections. Investors fear that a victory for Marine Le Pen's far-right National Rally party, which leads by a wide margin in the polls, will lead to looser fiscal policy. Any outcome seems unfavorable as, at the other end of the political spectrum, a coalition of the French left has put forward a manifesto calling into question most of President Emmanuel Macron's economic reforms.
The uncertainty has seen the premium France pays on its debt compared to Germany skyrocket this week to its highest level since 2011, while the yield on two-year German government bonds - the safest European sovereign bonds - is set for its biggest fall since December due to increased demand.
The high volatility and panic selling in the CAC, one of Europe's leading indices, and profit-taking in equities elsewhere in Europe could continue until the French elections are concluded in July.
However, much of what we are seeing now is panic selling due to uncertainty - recent economic data has shown that most data points to an improving economy in France and Europe.
In the US, the S&P 500 (and Nasdaq 100) remain near record highs, but are falling in line with the flight to safety. Adobe shares rose by the most in four years after the company forecast strong sales for its creative products.
Asian markets closed mixed today. The Bank of Japan kept investors waiting until its July meeting to learn how it will reduce bond purchases after leaving interest rates unchanged (as expected).
I expect Wall Street to continue to benefit from recent positive economic reports - including this week's very Fed-friendly inflation reports. However, following the hawkish tone from the Fed on Thursday and the dotplot showing that FOMC members only see one rate cut in 2024, rather than three as the previous dotplot showed, concerns remain that the Fed could keep financial conditions dovish for longer.
I expect profit taking and stronger demand for safe havens in the second half of US trading. However, the sharp losses in Europe today went a long way - there is unlikely to be any additional headwind from Europe. However, the situation in Europe remains tense and volatile.
๐ ROB'S MARKET OVERVIEW:
June 14, 2024
๐/๐บ๐ธ Global Markets โ๏ธ/โ๏ธ
Cyclical / Luxury Stocks โ๏ธ/โ๏ธ/โ๏ธ
Tech/Growth Stocks โ๏ธ/โ๏ธ/โ๏ธ
Financial Stocks โ๏ธ/โ๏ธ
Defensive Stocks โก๏ธ
Energy Stocks โก๏ธ
Materials Stocks โ๏ธ/โก๏ธ
๐ฑ Forex
CHF โ๏ธ (benefiting from safe haven demand and outlook of rate cuts for ECB, Fed, BoE, BoC etc)
USD โ๏ธ/โก๏ธ (losing some of earlier gains due to further falling yields)
JPY โ๏ธ/โก๏ธ (benefiting from safe haven demand; slight headwinds from still very loose BoJ policy)
CAD โก๏ธ
AUD โ๏ธ/โก๏ธ
EUR โ๏ธ/โ๏ธ (sharply oversold but remaining under pressure due to uncertainty in Europe)
GBP โ๏ธ (headwinds from increased safe haven demand, uncertainty in Europe)
โ Commodity Markets โ๏ธ
Oil prices โ๏ธ/โก๏ธ
Natural Gas prices โ๏ธ/โ๏ธ
Metal prices โ๏ธ/โก๏ธ
Gold โ๏ธ/โ๏ธ (benefiting from lower yields / increased safe haven demand)
โก๏ธCryptos โ๏ธ/โ๏ธ (benefiting from lower yields, remaining in bullish momentum)
(*โ๏ธ bullish, โ๏ธ bearish, โก๏ธ sideways / stable, โ๏ธ mixed / volatile)
Your Robert
โ ๏ธ NON-DELAYED ROB'S DAILY UPDATE IN VIP CHANNEL
๐ SmartTrader Insights: Friday Markets Wrap ๐
๐ Friday, June 14
โ๏ธ European markets & EUR continue to fall over French political turmoil; Mixed signals from US & Asia
โบ European stocks (Stoxx 600) trade 0.4% lower, following a heavy selloff on Thursday. Euro Stoxx 600 futures are on track for its worst week since October. This comes after French President Emmanuel Macron announced a snap election following his party's poor performance in the European Parliament elections. In France, the inflation rate surged to 2.3% in May from 2.2% in April, in line with consensus expectations. The uncertainty has caused the premium France pays on its debt relative to Germany to soar, marking the biggest move since the European debt crisis in 2011. The EUR extended losses that it suffered on Thursday.
โบ US stock futures saw modest gains after the S&P 500 achieved a fourth consecutive record, driven by a surge in tech shares, particularly Broadcom. Adobe is up more than 14% in pre-market trading after the design software maker reported earnings and revenue that topped estimates and lifted full-year guidance. The USD strengthened against major currencies, while Treasury yields remained steady. The US producer price index unexpectedly declined the most in seven months, indicating moderating inflationary pressures. This data increases the likelihood of the Federal Reserve considering interest rate cuts later this year.
โบ Asian equities dropped, with losses in China and Hong Kong offsetting gains in Japan. The JPY weakened past 158 / USD after the Bank of Japan delayed a decision on its bond buying plan, maintaining interest rates between 0% - 0.1%. Japan's Topix Index rose as much as 0.9%, while the JPY hit its lowest level in six weeks. Japanโs industrial output fell 0.9% in April, a significant decline from the preliminary data. MSCIโs Asia Pacific index slipped, with Chinese stocks extending their losses into a fourth week amid calls for policy easing to support the economy.
โบ Oil prices gained slightly despite ongoing discussions of a potential cease-fire in the Middle East. WTI Crude is trading at around $78/barrel. Gold prices pushed upwards to around $2,320/oz, now trading at $2,316/oz, after yesterdayโs sentiment driven selloff after Wednesday's Fed comments and despite further falling yields post soft US PPI data.
Key events in today's economic calendar:
(times in UTC+0)
โฆ๏ธ ๐ฏ๐ต BoJ Interest Rate Decision - 03:25 (released)
๐ธ ๐ฏ๐ต Industrial Production - 04:30 (released)
๐ธ ๐ซ๐ท Inflation Rate / CPI - 06:45 (released)
๐ธ ๐ช๐บ Balance of Trade - 09:00 (released)
๐ธ ๐บ๐ธ Michigan Consumer Sentiment - 14:00
๐ธ ๐ช๐บ ECB President Lagarde Speech - 17:30
๐ธ = Event of medium/high importance
โฆ๏ธ = Event of very high importance
Key Earnings Reports:
(ordered by market capitalization)
โ๏ธ Tesco (TSCDY) ๐ฌ๐ง
SmartTraderโข Analyst team & Robert Lindner
โ
12.6 - NAS100 - LONG โ๏ธ (TP - 19423.3)
โ
12.6 - XAU/USD - LONG โ๏ธ (SL - 2335.40)
โ
12.6 - NAS100 - LONG โ๏ธ (TP -19519.40 | or CLSD ~19500)
โ
12.6 - TSLA - LONG โ๏ธ (TP - 176.63|or TP 177.97)
โ
12.6 - AMD - LONG โ๏ธ (SL - 160.48)
โ 12.6 - XOM - LONG โ๏ธ (SL- 110.69) ๐
โ
12.6 - XAU/USD - LONG โ๏ธ (SL - 2331.63)
โ 12.6 - US30 - LONG โ๏ธ (SL - 38768.90| or SL - 38643.40)
โ
12.6 - NAS100 - LONG โ๏ธ (TP - 19579.70 |or SL 19529.70)
โ 12.6 - XAU/USD - LONG โ๏ธ (SL - 2311.89) ๐
โด๏ธ(โ*) 12.6 - EUR/USD - LONG โ๏ธ (open - break-even|+re-entry)
๐ ๐ @: 1.07273 ๐| TP โ
@: 1.07723 (*off-profit) ๐
โ
12.6 - NAS100 - LONG โ๏ธ (TP - 19633.30 ) ๐ ๐ธ
8/12 - (1 open position)
โ 13.6 - GER_40 - LONG โ๏ธ (SL - 18323.30)
โ
13.6 - US30 - LONG โ๏ธ (TP - 38769.30| or open)
๐ TP โ
@: 38769.30
โ
โด๏ธ 13.6 - USD/CHF - SHORT โ๏ธ (open - SL in profit)
๐ ๐ @: 0.89437 | TP โ
@: 0.89243
โ
13.6 - MSFT - LONG โ๏ธ (SL - 440.98)
โ
13.6 - XAU/USD - LONG โ๏ธ (SL - 2308.23)
โ
โด๏ธ 13.6 - NAS100 - LONG โ๏ธ (open - SL in profit)
๐ ๐ @: 19598.30 | TP โ
@: 19652.30
โ
โด๏ธ 13.6 - XAU/USD - LONG โ๏ธ (open - SL in profit)
๐ ๐ @: 2302.43| TP โ
@: 2308.49
6/7 - (3 - open positions)
Today was another busy day (for us and the markets). Most traders/investors were just as confused as the markets, which initially sold off after further heavy losses in Europe and concerns about a more hawkish Fed. Then the market calmed down and focused more on fundamentals again. We traded very well today, although we underestimated the strong bearish momentum in Europe and were too greedy once with our gold position (from yesterday - which should have closed much better).
Nevertheless, chapeau! ๐
Our Nasdaq 100 almost closed in our tight deep-in-profit SL before the end of trading (will most likely trigger SL). We extend the SL for our EUR/USD slightly and tighten our TP (off-profit).
โก๏ธ LIGHTNING RAPID UPDATE ๐ฐ
USD/CHF
SL ๐ @: 0.89437 ๐
TP โ
@: 0.89243 ๐
Gold (XAU/USD)๐ฅ
SL ๐ @: 2302.43 ๐
TP โ
@: 2308.49
We are tightening our SLs slightly for our USD/CHF and gold positions in order to hedge somewhat higher profits.
โก๏ธ RAPID UPDATE ๐ฐ
Nasdaq (NAS100 / US100) ๐บ๐ธ
SL ๐ @: 19584.70
TP โ
@: 19642.30
We will tighten SL again here before Adobe reports.
โก๏ธ RAPID UPDATE ๐ฐ
Nasdaq (NAS100 / US100) ๐บ๐ธ
SL ๐ @: 19573.40
TP โ
@: 19642.30
We see a market that is calming down and following the (fundamental) data again - as we expected.
After yesterday's hawkish Fed rate update, panic and uncertainty prevailed today. The dot plot showed that the FOMC thinks it is appropriate to only cut rates. Above all, the biggest problem for the FOMC continued to be the diminishing signs of disinflation. However, today's PPI and yesterday's US CPI as well as the PCE data for April were all encouraging and contradict the FOMC's statements.
Furthermore, we are now seeing the markets increasingly ignore the Fed's (and Powell's) cautious comments. Swap markets are still pricing in almost two Fed rate cuts for 2024. This is also evident in the USD, bonds and gold, all of which are now less driven by sentiment.
We have found a very good entry into the Nasdaq 100 (against the market) and are securing profits. Our Dow Jones is still slightly down - we remain LONG. The Dow Jones remains an underperformer as growth/tech stocks are less important in the Dow Jones. You can set a TP (for the Dow Jones) which is currently trying to break through 38700 again (which should succeed) - TP โ
@: 38769.30
โโโ-
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โก๏ธ RAPID UPDATE ๐ฐ
Gold (XAU/USD)๐ฅ
SL ๐ @: 2299.77
TP โ
@: 2308.47
Gold was able to break the $2,300 - that's good. We are now quicker securing profits as we will likely see a profit taking wave coming again - even with gold here fundamentally supported.
โก๏ธ FREE RAPID SIGNAL ๐ฏ
BUY NOW ๐ผ Gold (XAU/USD)๐ฅ
โ ๏ธ Increased Volatility; High Risk!
SL ๐ @: (VIP ONLY)
TP โ
@: (VIP ONLY)
โบ We see many bearish technical indicators / patterns suggesting that gold will continue to fall - this creates pressure on gold. We are also seeing recurring profit taking and lower lows. At the same time, however, we also see yields falling again or falling further (now at -4 basis points for the US 10-Y), which fundamentally supports gold.
โบ We are now getting back into gold in the $2,294 - $2,297 range and expect a further (probably) short-term rebound. We are therefore working with a tighter TP. We continue to work with a fairly tight SL at the June (one-month) lows
โบ We expect rising support below the key $2,300 level, which should help the gold price to stage a small rebound.
๐ฃ๏ธ Tip: Multiply your usual trade size by ~ 0.4 - 0.6 (40% - 60%) when trading gold (XAU/USD)
โฑ Update DELAYED by: 25+ (!) minutes! โ ๏ธ
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๐ฅ2๏ธโฃ2๏ธโฃ9๏ธโฃ6๏ธโฃ๐
๐ฅ VT Markets (๐ฌ๐ง๐ณ๐ฟ๐ช๐บ๐)
๐ฅ Vantage (๐ฆ๐บ๐ณ๐ฟ๐ฌ๐ง๐ช๐บ๐) <- NEW
๐ฅ PU Prime (๐จ๐ฆ๐ฆ๐บ๐ณ๐ฟ๐ฌ๐ง๐ช๐บ๐)
๐ฅ Admiral Markets (๐ช๐บ๐ฆ๐บ๐ณ๐ฟ๐)
๐ฅ Libertex (๐ช๐บ๐)
โก๏ธ RAPID UPDATE ๐ฐ
Microsoft (MSFT) ๐บ๐ธ
SL ๐ @: 440.98
TP โ
@: 444.39
In today's chaotic stock market we made (again) a very strong NYSE opening trade and also our opening price at $440.00 (I went in a bit above) was spot on.
We set an in-profit SL and our TP at a new ATH. I see Microsoft remaining in it's current very bullish momentum.
We continue to see a volatile market sentiment.
โโโ-
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๐ฅ VT Markets (๐ฌ๐ง๐ณ๐ฟ๐ช๐บ๐)
๐ฅ Vantage (๐ฆ๐บ๐ณ๐ฟ๐ฌ๐ง๐ช๐บ๐) <- NEW
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๐ฅ Admiral Markets (๐ช๐บ๐ฆ๐บ๐ณ๐ฟ๐)
๐ฅ Libertex (๐ช๐บ๐)
๐ฐ FREE VIP SIGNAL ๐ฏ
BUY NOW ๐ผ Nasdaq (NAS100 / US100) ๐บ๐ธ
โ ๏ธ Increased Volatility
TP โ
@: (VIP ONLY)
โบ Concerns over yesterday's hawkish Fed repositioning continue to weigh on market sentiment today - but are also being pressured by sharp declines in Europe, which has set in motion a potential tariff escalation spiral with China after imposing high tariffs on Chinese electric vehicles. We now see the DAX almost 2% lower - which also led to our SL being triggered. We are now keeping our fingers off Europe, which is also characterized by political instability.
โบ The Nasdaq 100 has also fallen by almost 150 points from a new ATH. Some of the big pre-market winners faced profit-taking and feared that the cool PPI readings and the easing in the labor market were a sign of an economic slowdown.
โบ However, today's weaker PPI figures combined with yesterday's weak CPI data should call into question the Fed's decidedly cautious comments from yesterday's FOMC meeting - especially as the FOMC's main concern was the slow progress on disinflation. The latest inflation data shows a much more favorable path for US inflation, which would ultimately lead to a softening of financial conditions in the US.
โบ We still see growth / interest rate sensitive stocks in a better position than on Tuesday (before the CPI / PPI data). We buy the decline in the Nasdaq (range 19530 -19550).
๐ฃ๏ธ Tip: Multiply your usual trade size by ~ 6 - 8 (600% - 800%) when trading the Nasdaq (NAS100).
โฑ Signal DELAYED by: 30+ (!) minutes! โ ๏ธ
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๐ฅ VT Markets (๐ฌ๐ง๐ณ๐ฟ๐ช๐บ๐)
๐ฅ Vantage (๐ฆ๐บ๐ณ๐ฟ๐ฌ๐ง๐ช๐บ๐) <- NEW
๐ฅ PU Prime (๐จ๐ฆ๐ฆ๐บ๐ณ๐ฟ๐ฌ๐ง๐ช๐บ๐)
๐ฅ Admiral Markets (๐ช๐บ๐ฆ๐บ๐ณ๐ฟ๐)
๐ฅ Libertex (๐ช๐บ๐)
๐ฐ VIP SIGNAL ๐ฏ
BUY WHEN NYSE OPENS ๐ผ (VIP ONLY) ๐บ๐ธ
Investors are a bit confused after the Fed made a rather hawkish re-positioning on inflation yesterday, especially while inflation data (CPI and PPI) came in well below expectations. The market should follow the fundamentals, but we see fragile optimism as some investors are still concerned that rates will stay high for longer.
๐น The Dow Jones (- 0.15 %) is down after an initial rise, reaching a flat level. The Dow Jones strongly underperformed yesterday. Profits must be invested more broadly (not just growth / chips / Apple, Nvidia Tesla). The Dow Jones has plenty of recovery potential.
๐น ExxonMobil (+0.3%) opens slightly higher, benefiting from the fact that the market still expects the US Federal Reserve to make two interest rate cuts in 2024 and from higher oil prices, which have now risen again to almost $78.5/barrel (WTI). Exxon remains oversold and is trapped in a bearish momentum. We set a tight SL ๐ @: 110.69 & wider TP โ
@: 102.49
๐น McDonald's (+0.0%) opens flat. It might already have your SL ๐ @: 253.34 if you set it right after the open yesterday. If not, we'll keep this SL (and our TP).
โบ We think Big Tech is still doing well, benefiting from much lower yields and continued strong revenue growth in the AI business, including Broadcom's recent quarterly results, which sent the AI chipmaker's shares soaring. We are buying the pre-market slight underperformance of (VIP ONLY), which is currently trading (VIP ONLY) lower in pre-market trading (at $(VIP ONLY) - looking to enter near $(VIP ONLY)). (VIP ONLY) continues to be the (VIP ONLY) AI(VIP ONLY) and in particular its close partnership (VIP ONLY). (VIP ONLY). (VIP ONLY) performance this year and since June 1 has been impressive. We expect this rally to continue for now.
๐ฃ๏ธ Tip: (VIP ONLY)
โฑ Signal DELAYED by: 15+ (!) minutes! โ ๏ธ
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๐ค๐
๐ฅ VT Markets (๐ฌ๐ง๐ณ๐ฟ๐ช๐บ๐)
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BUY NOW ๐ผ Dow Jones (US30) ๐บ๐ธ
โ ๏ธ LIVE TRADING ONLY IN VIP CHANNEL โ ๏ธ
โบ The PPI was well below expectations, which led to a fall in yields and reinforced expectations that inflation in the US is on the way to cooling. The PPI m/m was even negative at -0.1% (instead of +0.1% expected)
โบ This is what we expected and why we also entered the DAX earlier. We are benefiting strongly from the PPI figures. Gold is now also making a significant leap upwards.
โบ Initial jobless claims were above expectations - also Fed-friendly.
โบ We see the S&P 500 / Nasdaq 100 now at the ATH - we get back into the Dow Jones, which is still negative for today (currently back at 38700; or stay LONG in the Dow Jones if you have a LONG position).
๐ฃ๏ธ Tip: Multiply your usual trade size by ~ 3 - 4 (300% - 400%) trading the Dow Jones (US30).
โ ๏ธ LIVE TRADING NUR IN VIP CHANNEL โ ๏ธ
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๐ฅ Admiral Markets (๐ช๐บ๐ฆ๐บ๐ณ๐ฟ๐)
๐ฅ Libertex (๐ช๐บ๐)
๐ SmartTrader Insights: Thursday Markets Wrap ๐
๐ Thursday, June 13
โ๏ธ European stocks dip after mixed signals from the US economy & the Fed
โบ European stocks relinquished gains following Wednesday's positive momentum from softer US inflation data, as the Federal Reserve's more hawkish stance on interest rates dampened sentiment. The Stoxx 600 dipped 0.5%, erasing some of its biggest advance in more than a month. European bonds fell after the MSCI excluded the blocโs debt from key sovereign indexes.
โบ US markets closed at record highs yesterday, with the S&P 500 and Nasdaq 100 pointing higher. The Federal Reserve's revised forecast of only one 25 basis-point interest rate cut caused turbulence on the market. In after-hours, the Nasdaq and S&P 500 rose further following Broadcom's strong earnings report. Tesla also rose in after-hours / pre-market trading up to 7% after Elon Musk said late on Wednesday that Tesla shareholders are set to approve his controversial $56 billion pay package and a resolution to move the electric carmakerโs incorporation to Texas. The previous dot plot suggest a potential of three rate cuts in 2024. However, the market is still pricing in nearly two 25 basis-point rate cuts by year-end, reflecting ongoing uncertainties in monetary policy and following yesterday's significantly cooler-than-expected US CPI data. The USD strengthened slightly with Treasury yields remaining steady for now after another sharp decline yesterday.
โบ Asian stocks were mixed. While Japan's Topix dropped for a third consecutive day amid concerns over the Bank of Japan's potential reduction in bond purchases. Japanese investors sold the largest amount of foreign debt in nine years last week amid a shift in global central bank policy. Australia, Hong Kong, and South Korea saw gains, bolstered by positive US market performance the previous day. South Korea's stock benchmark rose as much as 1.8%, reaching its highest level since February 2022, driven by government considerations to amend short-selling rules.
โบ Oil prices slid slightly, after a three-day advance, influenced by an unexpected build in US crude stockpiles and a higher-for-longer outlook on Fed rates. WTI Crude oil is now trading at around $78.0/barrel. The gold price fell to $2,316/oz after gold reacted very positively to yesterday's CPI data but faced some headwinds from the unexpectedly hawkish stance of the Fed.
Key events in today's economic calendar:
(times in UTC+0)
๐ธ ๐ฆ๐บ Employment Change - 01:30 (released)
๐ธ ๐ช๐ธ Inflation Rate / CPI - 07:00 (released)
๐ธ ๐ช๐บ Industrial Production - 09:00 (released)
๐ธ ๐บ๐ธ Initial Jobless Claims - 12:30
๐ธ ๐บ๐ธ PPI - 12:30
๐ธ = Event of medium/high importance
โฆ๏ธ = Event of very high importance
Key Earnings Reports:
(ordered by market capitalization)
๐ Adobe (ADBE) ๐บ๐ธ
SmartTraderโข Analyst team & Robert Lindner
Nasdaq (NAS100 / US100) ๐บ๐ธ
TP triggered โ
@: 19622.30
Another (almost) 100 points with the Nasdaq 100. We have now made more than 750 points profit with the Nasdaq over the last three days (with little actual movement in the Nasdaq overall) and almost always hit the perfect entry point - congratulations!
For most of you, our Nasdaq gains alone are probably more than an average normal monthly income. For many of you probably already in the 2 - 3+ average monthly salary range - please share some of your big profits with people in need โค๏ธ
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BUY WHEN* NYSE OPENS ๐ผ ExxonMobil (XOM) ๐บ๐ธ
We see global market sentiment and stocks in Europe / New York trimming their losses after another bout of very strong panic-like profit-taking in Europe - especially in France - and the CAC40 losing all of this year's gains.
๐น The Nasdaq (- 0.1 %) is slightly lower, but less than other indices. We have again found an almost perfect entry at the peak of the sell-off (in pre-market trading in Europe/USA) - our position is well in profit. We can work with a fairly tight TP โ
@: 19617.40. If you want, you can also set a tight in-profit SL ๐ @: 19542.90 - I do, even if there is a risk that the high volatility during the NYSE opening triggers the SL. However, we could then find a better re-entry.
โบ The underperformance of US energy stocks can hardly be justified in view of the recent sharp rise in oil prices. We see oil prices back near the June highs despite a stronger USD. Analysts from investment banks such as Citigroup and Deutsche Bank as well as OPEC see rising demand and a possible supply deficit. Oil prices are also benefiting from persistent hopes that the Fed will cut interest rates twice this year (by a total of 50 basis points). We see XOM at the $110.00 mark - and buy near this level Range: $109.65 - $109.95*.
๐ฃ๏ธ Tip: Multiply your usual trade size by ~ 500 - 530 (50,000% - 53,000%) trading ExxonMobil (XOM).
โฑ Update DELAYED by: 15+ (!) minutes! โ ๏ธ
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โบ We are seeing relatively low market breadth today. Market breadth measures the number of stocks that are rising versus those that are falling. We definitely continue to see that some large mega tech companies are the main reason for the recent gains (for the last 18 months gains anyway).
โบ After the Nasdaq got back near the ATH overnight (after Adobe earnings), we are now seeing a dip, also due to heavy losses in Europe. Due to growing concerns about political unrest in France, European equities headed for their worst week since October.
โบ We see a stronger USD despite further falling yields - which generally shows that we are seeing increasing caution. Yields are also falling due to increased demand for bonds - both for safe haven reasons and because investors are still pricing in two Fed rate cuts in 2024. We also see a strong rebound in gold.
โบ After 2 - 3 encouraging inflation reports now, investors will be still optimistic about the inflation trend. Lower yields continue to provide a tailwind for growth stocks. With Adobe and Broadcom, we have also seen two very good earnings reports from large technology companies in the last 2 days.
โบ We are (again) buying the Nasdaq 100 dip (range 19500 - 19525; we expect support at 19500). We see major indices at key levels - Nasdaq at 19500, S&P 500 at 5400, DAX at 18000, CAC at 7500 - which could also lead to some technical buying. After very heavy losses in Europe - I see limited further downside for today (European equities).
๐ฃ๏ธ Tip: Multiply your usual trade size by ~ 6 - 8 (600% - 800%) when trading the Nasdaq (NAS100).
โฑ Signal DELAYED by: 50+ (!) minutes! โ ๏ธ
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๐ค๐ค๐ค๐๐
1๏ธโฃ9๏ธโฃ5๏ธโฃ2๏ธโฃ0๏ธโฃ
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Subsequent screenshot.
Our fourth (!) Nasdaq trade from yesterday just before NYSE close / before Broadcom earnings was an absolute masterpiece and started our session today with a massive gain. I see most of you closed the position even better than at 19633.30 (~almost 200 points in the money). We made four (!) successful Nasdaq trades yesterday (and one today - insane; congrats!).
โ
12.6 - NAS100 - LONG โ๏ธ (TP - 19633.30 | or CLSD higher) ๐ ๐ธ)
Overview last 30 trading days:
โ
Performance: 03.05 - 06.06 (26 trading days)
122 / 147 = 82.9% Success Rate
(May 2 - 5/5 = 100% SR dropped out)
๐ก*) 7.6 - XAU/USD - LONG โ๏ธ (TP - 2335.90|or CLSD 2334 - 2337)
โ
7.6 - NAS100 - SHORT โ๏ธ (SL - 18980.6)
โ
7.6 - XAU/USD - SHORT โ๏ธ (SL - 2312.56)
โ
7.6 - NAS100 - SHORT โ๏ธ (TP 18984.20 / or TP 18981.10)
โ
7.6 - JPM - LONG โ๏ธ (TP - 200.27|CLSD 200.50-.90, or open)
*break-even (only shared in VIP / taken out of statistic)
4/4 = 100% Success Rate ๐
โ 10.6 - EUR/AUD - LONG โ๏ธ (TP - 1.62583; re-entries in profit)
โ
10.6 - NAS100 - SHORT โ๏ธ (SL - 19072.20)
โ
10.6 - APPL - LONG โ๏ธ (TP - 195.99| or CLSD 197.00+)
2/3 = 66,7% Success Rate
โ
11.6 - GBP/USD - SHORT โ๏ธ (SL - 1.27253)
โ
11.6 - XOM - LONG โ๏ธ(TP - 112.39; pos. slippage open 130.30)
โ 11.6 - NAS100 - SHORT โ๏ธ (SL - 19202.60)
โ 11.6 - GBP/USD - SHORT โ๏ธ (SL - 1.27763)
โ 11.6 - GER_40 - SHORT โ๏ธ (SL - 18456.30)
โ
11.6 - XAU/USD - LONG โ๏ธ (SL - 2313.23)
3/6 = 50% Success Rate
Our EUR/AUD hit the TP (off-profit) which resulted in our original entry being closed out of profit. It was still a very good TP as the EUR faced headwinds today due to the sharp drop in European equities.
โก๏ธ RAPID UPDATE ๐ฐ
Nasdaq (NAS100 / US100) ๐บ๐ธ
SL ๐ @: 19598.30
TP โ
@: 19652.30
Ohw - Adobe 10+% up ๐ผ initial reaction post earnings report. NICE!
We tighten our SL again and widen our TP a bit.
โก๏ธ RAPID UPDATE ๐ฐ
USD/CHF
SL ๐ @: 0.89456 ๐ (or wider)
TP โ
@: 0.89253 ๐
Gold (XAU/USD)๐ฅ
SL ๐ @: 2301.49 ๐
TP โ
@: 2308.49 ๐
Our last gold trade is a real beauty - congratulations! We found the perfect entry (twice in a row, in fact) in a heavily oversold, sentiment-driven market.
We are keeping our SL tight. We see little volatility at the moment, especially given the strong move in the gold price over the last two days.
We can also set a (not too) tight TP for our USD/CHF. I still see the USD in normalization mode. Without the Fed's hawkish stance yesterday, the USD would be much weaker. You can work with a tight (in-profit!) SL or with a wider SL.
โโโ-
2๏ธโฃ2๏ธโฃ9๏ธโฃ6๏ธโฃ๐ฏ๐ฏ๐ผ
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SELL NOW ๐ฝ USD/CHF
โบ The soft PPI data and the higher-than-expected initial jobless claims are very Fed-friendly data. If the Fed had not taken a more hawkish stance yesterday, we would now be seeing a significantly weaker USD.
โบ The inflation data do not reflect the Fed's forecasts, as the cooling of the PPI (even negative on a monthly basis) continues to support disinflation. A slowdown in producer prices usually has a delayed effect on consumer prices, as it takes a while for producers to pass on lower producer prices (with a smaller effect) to consumer prices.
โบ We see swap markets continuing to slightly increase rate cut expectations and we see lower yields.
โบThe only potential downside is that a falling PPI is usually a sign of slowing economic activity - negative for market sentiment. We are trading the USD against the CHF and expect the pair to give back some of yesterday's recovery gains.
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โก๏ธ RAPID UPDATE ๐ฐ
Gold (XAU/USD)๐ฅ
SL ๐ @: 2296.99
TP โ
@: 2308.47
We set an in-profit SL. We see some resistance at $2,300 - which was expectable, but if the level can't be broken we will likely see more technical selling. We also tighten our TP.
We again found the perfect entry - but we see gold in an overall bearish momentum now.
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STAY LONG ๐ผ EUR/USD
SL ๐ @: 1.07317 ๐
TP โ
@: 1.08197 ๐
โบ The heavy losses on the European equity markets are also weighing on the EUR. We now see the EUR/USD at a level prior to the US CPI (or even slightly below). The decline is due to the weakness in the EUR and the heavy losses in Europe (the weakness of the EUR should nevertheless only be temporary).
โบ Fundamentally, the USD should be on the path to normalization after two much cooler than expected inflation data.
โบ We remain LONG here (you can make an optional small re-buy now as we expect more support in the range 1.07400 - 1.07500 - but we work with the tight SL). If risk sentiment on Wall Street improves again, the more risk-sensitive currencies will also benefit.
โบ We are now setting a tight SL and our TP slightly above 1.08000. In the medium term, the EUR/USD should rise as long as the Fed's rate cut expectations remain in place and the market focuses more on the cooling inflation data (+ easing labor market) than on the Fed's cautious comments.
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โก๏ธ RAPID UPDATE ๐ฐ
Gold (XAU/USD)๐ฅ
SL ๐ @: 2308.23
TP โ
@: 2319.79
We, or rather I, were too greedy with our gold position from yesterday. The market remains volatile and there is the conflict for investors between the Fed, the Fed's inflation outlook and the recent very good inflation numbers. The focus should be on the data, but confidence in the Fed (and that the Fed is doing the right thing is now somewhat damaged again - and causing concern).
At least we have found the perfect re-entry. We are now setting an in-profit SL and holding our TP for the time being.
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BUY NOW ๐ผ Gold (XAU/USD)๐ฅ
โ ๏ธ Increased Volatility!
SL ๐ @: (VIP ONLY)
TP โ
@: (VIP ONLY)
โบ Gold already hit strong technical resistance at $2,325 despite lower yields - we should have closed there. We see the USD stabilizing / edging slightly up putting pressure on gold. We also see yields trimming some of their post PPI losses with yields on the 10-y now at only -1 bps.
โบ We want to get back into gold now ($2,303 - $2,306) below our triggered SL (if you are still LONG adjust your SL).
โบ We work with a tight SL in case the bearish momentum continues and gold breaks also through key level $2,300. Gold remains hit by recent profit taking waves and concerns about a Fed which seems reluctant to pivot (which, however, also didn't see yesterday US-CPI and today's PPI data).
๐ฃ๏ธ Tip: Multiply your usual trade size by ~ 0.4 - 0.6 (40% - 60%) when trading gold (XAU/USD)
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โก๏ธ RAPID UPDATE ๐ฐ
Gold (XAU/USD)๐ฅ
SL ๐ @: 2311.89
TP โ
@: 2327.63
We are tightening our TP a bit - as we see (temporary) technical resistance above $2,325 / technical selling & profit taking.
Gold benefits strongly from the soft US PPI (following yesterday's soft US CPI data) but is also facing some headwinds after the Fed says it will keep rates higher for longer. The market, however, should follow the actual data and the Fed will follow the data as well in it's upcoming decisions.
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SL ๐ @: (VIP ONLY)
TP โ
@: (VIP ONLY)
โบ It was a very good overnight session for us. The Nasdaq 100 closed at our well-placed TP (almost 200 points above entry) and the EUR also rallied strongly, with our EUR/AUD reaching the TP.
โบ We see a deep red European market which took yesterday's hawkish Fed re-positioning negatively after initially cheering the weaker US CPI data. However, we see swap markets still pricing in two rate cuts in 2024 after the US CPI data, which FOMC members did not see before making their decision. We also see that the bond market reacted much less to the Fed (rate decision & dot plot update) than to the US CPI data and that yields still closed significantly lower yesterday.
โบ The DAX is being weighed down mainly by heavy losses from German auto companies fearing that the new European tariffs on Chinese electric vehicles could lead to retaliatory measures. China is the most important market for the German automotive industry.
โบ The upcoming snap elections in France also continue to weigh on sentiment: the CAC fell to its lowest level since February 20.
โบ I expect Wall Street to remain bullish and the US PPI data (12:30 UTC+0) to provide a renewed boost. We are buying the DAX near the bottom (18400 - 18425) and expect some of the very deep red components to cut some of their heavy losses in early European trading.
โบ A stronger EUR and mixed Asian trading have also weighed on the DAX. We see the DAX in short-term oversold territory here and are buying the dip.
๐ฃ๏ธ Tip: Multiply your usual trade size by ~ 6 - 8 (600% - 800%) when trading the DAX (GER_40)
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Our Tesla (NYSE opening) trade from today deserves an extra mention. On a day with US CPI and the Fed Interest Rate Decision - of all days - we made the trade of the day with a sentiment-driven Tesla trade - whereby Tesla of course also benefited from the overall positive sentiment and the sharp drop in yields.
Congratulations - our Tesla trades remain special whether we go LONG or SHORT.
PS: Some of you even closed Tesla at TP โ
177.97 - that would mean a movement of 4.5% in our favor from our entry (if the entry is at 170.25)