|Day's Range||7,940.45 - 7,969.79|
|52 Week Range||5,895.12 - 7,969.79|
Investing.com - Stocks were waiting on Monday for the second-quarter earnings season to shift into high gear.
Investing.com -- U.S. stock markets hit a new record high on Wednesday after Federal Reserve Chairman Jerome Powell gave his clearest hint yet that the central bank will cut interest rates to support an economy stumbling under the weight of the U.S.'s various trade conflicts.
Investing.com – Investors returned from the July 4 weekend and didn't like what they saw from Apple and Boeing and thought they saw from the Federal Reserve.
Is Powell about to bring an end to the FED’s independence? There’s more than sustaining stock values in Wednesday’s testimony…
Positive news from the G20 Summit got the week off to a positive start, with a jump in nonfarm payrolls wrapping things up on Friday… There was plenty in between, however.
Investing.com – Stocks surged Wednesday, and the Dow Jones Industrial Average jumped to a new closing high in a holiday-shortened trading day.
Investing.com – Stocks rose on Monday in the wake of a U.S.-China agreement to resume their trade talks and President Donald Trump's brief meeting with North Korean leader Kim Jong-un.
For nearly two months, a series of escalations to the on-going trade spat between the United States and China had held the financial markets hostage, nearly forcing a change in U.S. monetary policy, while threatening to drive the global economy into recession.
The main trend is up according to the daily swing chart. However, momentum has been drifting lower since June 20. Taking out 7821.00 will signal a resumption of the uptrend. The main trend will change to down on a trade through 7446.25. Although the index is lower on Friday, the low volume and volatility and the inside move indicate a lack of conviction.
Based on the early price action, the direction of the September E-mini NASDAQ-100 Index into the close is likely to be determined by trader reaction to the short-term 50% level at 7633.50.
The US-China deal has been perhaps one of the most discussed topics in recent weeks. However, only a few days before the decisive meeting (which, it seems, will fail to solve anything), markets received the comments of US Treasury Secretary Steven Mnuchin.
Investing.com - Stocks struggled for much of Wednesday, fighting off the effects of higher interest rates and rising oil prices.
Investing.com – Micron’s better-than-expected results and news that the chipmaker had resumed shipments to Chinese telecommunications-equipment maker Huawei stoked expectations that memory demand is returning, sending chip stocks soaring higher Wednesday.
Investing.com - Stocks fell back Tuesday as investors became more certain the Federal Reserve will only enact a modest rate cut at its July meeting. In addition, unease grew about the prospects for a meeting between President Donald Trump and China President Xi Jinping
Based on the early price action, the direction of the September E-mini NASDAQ-100 Index on Tuesday is likely to be determined by trader reaction to the downtrending Gann angle at 7742.75.
It looks as if inflation levels and the labor market will have the biggest influence on policymakers. This puts the emphasis on Friday’s PCE deflator, a major inflation indicator for the Fed, and the July 5 U.S. Non-Farm Payrolls report. Essentially, the decision to cut rates comes down to whether policymakers feel the need for insurance against an economic downturn, or the need to stimulate the economy.
This is not a panic situation so the Fed’s decision will still be data dependent. If labor market, manufacturing and inflation data continue to come in weak, then they’ll cut in July. If it stays steady or improves, then they won’t. That’s the risk of being “all in” at current price levels.
Investing.com - Stocks took off on Tuesday after President Donald Trump announced he plans to meet with Chinese President Xi Jinping in a bid to resolve their trade dispute.
Based on last week’s price action and the close at 7504.75, the direction of the September E-mini NASDAQ-100 Index this week is likely to be determined by trader reaction to the Fibonacci level at 7551.00.
As of today, the NQ has already moved upward by over 400 points since the end of May. This price advance equaling our expected data range would suggest that the upward price move in the NQ may be very close to ending.
One result is predicting an upward price bias over the next 2 to 4 months whereas the second result is predicting a sideways price result over the same period of time.