Technical Analysis

Equities Q3 2022 Technical Forecast: Rebound then Lower Again

Equities Q3 2022 Technical Forecast: Rebound then Lower Again

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At one point last quarter the U.S. stock market was off by about 25%, with all losses coming in the first half of the year. Stocks became oversold with sentiment nose-diving, and on that it appears we are in for a bit of a recovery. However, all that is expected is just that – a…
US Dollar Q3 2022 Technical Forecast: Does the Bull Stampede Have More Room to Roam?

US Dollar Q3 2022 Technical Forecast: Does the Bull Stampede Have More Room to Roam?

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The bullish USD trend turned a year-old last month. And it can be difficult to put into scope everything that’s happened since then but, just last May, DXY was grinding at the same 90 level that had held the lows at the start of the year. Sentiment at the time still felt overwhelmingly bearish in…
British Pound Q3 Technical Forecast: Can Sterling Recover or Will Bears Remain in Control?

British Pound Q3 Technical Forecast: Can Sterling Recover or Will Bears Remain in Control?

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GBP/USD has remained humbled since the latter part of last year as the pair continues to be influenced by geopolitics.For the safe-haven US dollar, an aggressive US Federal Reserve and tighter monetary policy has favored the greenback, allowing it to appreciate against its major counterparts, including the Sterling.From a technical standpoint, the downward trajectory of…
EUR/USD Forecast: Bounces From Major Support Level

EUR/USD Forecast: Bounces From Major Support Level

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The Euro has bounced from a major support level to show signs of life yet again. By doing so, the market looks as if it is ready to try to recover, but there are a lot of noisy areas above that could cause problems.AdvertisementWhen I look at this chart, it’s obvious that the 1.04 level…
S&P 500 Forecast: Volatility Through End-of-Month Rebalancing

S&P 500 Forecast: Volatility Through End-of-Month Rebalancing

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The S&P 500 has been all over the place during the trading session on Thursday, as it was the end of the month and of course, rebalancing occurs. That being said, it really doesn’t change anything from a fundamental standpoint other than cause people headaches. If you were trading the index during the trading session…
GBP/USD Forecast: Attempting to Recover

GBP/USD Forecast: Attempting to Recover

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The British pound has rallied a bit during the trading session on Thursday, reaching near the 1.22 level. This is an area previously has been supported, so I would look at this through the prism of a market that has broken through support, and now is trying to test that level for resistance. The trend…
WTI Crude Oil Forecast: Breaks Through Minor Support

WTI Crude Oil Forecast: Breaks Through Minor Support

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The West Texas Intermediate Crude Oil market has fallen during trading on Thursday to break through a trendline. That being said, there is also a much more important trend line underneath here, so I think we have a huge fight on our hands. Crude oil is a market that I don’t like putting a lot…
NASDAQ 100 Forecast: Wild Ride Ahead

NASDAQ 100 Forecast: Wild Ride Ahead

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The NASDAQ 100 has gone back and forth during the bulk of the trading session on Thursday, which should not be a huge surprise considering that it was the end of the month’s rebalancing. Nothing has changed from a fundamental standpoint, so a lot of what we had seen during the trading session should be…
Ethereum Forecast: Continues to Form an H Pattern

Ethereum Forecast: Continues to Form an H Pattern

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Ethereum will continue to struggle on multiple fronts. Ethereum has fallen yet again during the trading session on Thursday as it looks like we are going to threaten the $1000 level. The pattern that we are carving out on the chart is an “H pattern”, which is typically very bearish. The $900 level recently offered significant…
Bitcoin Forecast: Breaks Below $20,000 Level Again

Bitcoin Forecast: Breaks Below $20,000 Level Again

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The Bitcoin market has fallen again during the trading session on Thursday to break back below the $20,000 level. At this point, it looks as if it is going to threaten the lows, closer to the $18,000 level. By all accounts, Bitcoin is nowhere near done selling off, and I do think that we have…

ANALYST PICKS

S&P 500 Feels the Rate Hike Heat While the Fed Fuels the Fire

S&P 500 Feels the Rate Hike Heat While the Fed Fuels the Fire

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S&P 500 STRATEGY: BEARISHThe S&P 500 has slid from its stimulus induced high as tightening bitesThe Fed has indicated that controlling inflation is the priority going forwardIt appears that we are nearer the beginning of the tightening cycle, rather than the endMONETARY POLICY IS A DOUBLE-EDGED SWORD FOR INVESTORSThe S&P 500 made a peak in…
Crude Oil Prices May Fall as World Growth Outlook Deteriorates, OPEC+ Output Rises

Crude Oil Prices May Fall as World Growth Outlook Deteriorates, OPEC+ Output Rises

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Crude Oil, WTI, Global Growth, OPEC+ – Analyst PickWTI crude oil prices on course for worst month since NovemberSlowing global growth and OPEC+ output restoration in focusOil broke under a key trendline, opening the door to some painWTI On Course for Worst Month Since November as Fundamental Drivers DecayAfter 6 months of consecutive gains, WTI…
10 & 30-yr Bonds to Rally in the Weeks Ahead

10 & 30-yr Bonds to Rally in the Weeks Ahead

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Interest Rate Outlook:Bonds to rally after taking out the 2018 lowsOn the heels of the largest rate hike since 1994Last week, the 10 and 30-yr bonds took out the 2018 low and reversed on the heel of the Wednesday FOMC meeting. The reversal to close the week back above that multi-year low suggests we may…
EUR/CAD Outlook: Euro Looks to Breakout from Loonie Strangle

EUR/CAD Outlook: Euro Looks to Breakout from Loonie Strangle

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EUR/CAD AnalysisEUR/CAD FUNDAMENTAL BACKDROPThe Bank of Canada remains hawkish in its narrative but has not deterred a Canadian Dollar (CAD) selloff as crude oil prices tumbled. This has given currencies like the euro a chance for a reprieve and potential reversal after years off downside. Lower crude prices are not a certainty as the Russia/Ukraine…