ONLINE FOREX BROKER
2020-06-29 • Updated
The S&P is down to 3,000 after a recent high at 3,200. A logical question is: how deep will this drop go?
The answer is: it’s still too early to raise alarm.
First, we have advised previously that the way further upwards at these heights will be more horizontally protracted compared to what it was before, and it may not necessarily fall into a clear bullish trajectory. Sideways intermezzos will take place just like it is now.
Second, even in the previous periods of bullish leaps since the March reversal, there were episodes (B, C) where the S&P did make a lower high and seemed to be bending downwards. On the below chart, you can see that there were at least three episodes where the S&P’s uptrend was crossed by bearish moods and notably trembled. As much as it dropped in the very recent episode A, the S&P did not yet change the uptrend. While the highs of the A1 trendline go lower, the lows of A2 still look upwards. The same was happening most of May: while the B1 curve bends downwards, higher lows of B2 are still in a bullish trajectory.
For this reason, tactically, we are still in an expected sideways-bearish period that did not even yet break out from the previously observed patterns. Let’s watch it closely then and adjust our estimations accordingly. So far, there is a further sideways trembling and an expected upswing ahead.
The S&P 500 had a good week due to the impressive start of Q1 earnings and favorable inflation data. In March, the consumer price index rose 5%, lower than the previous month's 6%, and met economists' expectations.
The previous year 2022, was undoubtedly tumultuous for the stock markets, with several stocks plummeting across multiple industries. Analysts have blamed the hard times on inflation, hawkish federal reserve policies, an impending global recession, and the ongoing crisis in Ukraine. This year, however, we're beginning to see some recovery in the stock markets. This article will find a few stocks worth buying this year.
In a call scheduled for January 25, 00:30 am GMT+2, Microsoft will publish the company's earnings for the final quarter of 2022 and comment on the results, projections, and outlook for the nearest future of the company.
Let's dive into the world of gold. Currently, the price of gold, represented by XAUUSD, is stuck in indecision, hovering around the $1,975 mark. The market is anxiously awaiting two important factors: the release of the Federal Reserve's meeting minutes and the extension of the US debt ceiling.
Hey guys, this is the last full trading week in May, and many forward-looking individuals like myself are already preparing themselves to seize whatever opportunities June may have in store. On this note, I will review a few commodities that have satisfied my quest for swing-trading opportunities in the coming month. Follow me!
The Bank of England (BoE) has dramatically shifted its economic forecasts. They no longer expect a recession in the UK and have upgraded their growth projections. This year, the BoE predicts GDP growth of +0.25%, a significant improvement from previous expectations. Next year's forecast is even more optimistic, with a projected growth of 0.75%.
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