|Day's Range||7,664.21 - 7,731.31|
|52 Week Range||5,895.12 - 8,027.18|
Investing.com - Stocks surged for a third-straight day on optimism about a U.S.- China trade deal and fewer worries about a recession hitting any time soon.
Based on the early price action and the current price at 7661.50, the direction of the September E-mini NASDAQ-100 Index on Monday is likely to be determined by trader reaction to the short-term 50% level at 7638.25.
Based on Friday’s price action and the close at 7611.75, the direction of the September E-mini NASDAQ-100 Index on Monday is likely to be determined by trader reaction to the intermediate 50% level at 7638.25.
Investing.com -- U.S. stock markets swung sharply at the opening on Thursday after weaker-than-expected industrial data poured cold water on a market that had appeared ready to rebound on signs that the U.S. consumer is still in good health.
Investing.com - Stocks plunged Wednesday after a key economic signal warned that the slowing global economy may produce a recession and both Germany and China showed more signs of slowing growth.
Based on the early price action and the current price at 7505.25, the direction of the September E-mini NASDAQ-100 Index into the close is likely to be determined by trader reaction to the main 50% level at 7510.50.
Trump extends China an olive branch in a bid to support retailers over the Christmas period. China needs to ramp up agri imports to ease tensions further.
Investing.com - A Trump Administration decision to delay the imposition of tariffs on goods imported from China set off a huge rally Tuesday that reclaimed most of Monday's losses.
Investing.com - Stocks plunged Monday and bonds jumped thanks to a miserable combination of trade worries, the worsening civil strife in Hong Kong and fears about global growth generally.
Investing.com -- Advanced Micro Devices (NASDAQ:AMD) was caught up in the broader market sell off on Monday despite drawing praise from analysts on Wall Street who believe the chipmaker's new server chip as well as its graphics and PC hardware will strengthen its position against rival Intel (NASDAQ:INTC).
Our research that highlighted this August 19, 2019 date and the potential for what we are calling the Crazy Ivan price move is rooted in our super-cycle analysis, predictive modeling tools, and other specialized proprietary price modeling solutions and utilities. We believe we’ve identified a key inflection point/date that will start what we are calling a “breakdown move” which will lead to the Crazy Ivan event throughout the globe.
Based on the current price at 7696.50, the direction of the September E-mini NASDAQ-100 Index into the close on Thursday is likely to be determined by trader reaction to the downtrending Gann angle at 7699.75.
The key level to watch into the futures close at 21.00 GMT is the main 50% level at 7510.50. Holding above this level into the close could give the market a boost early Thursday. A break back under 7510.50 will indicate that sellers came in on the close. This could lead to early weakness on Thursday.
Some economists are saying that the escalating trade war and its impact on the global economy are not the only reasons for slowing labor conditions. They blame the slowdown in hiring on the fading stimulus from last year’s $1.5 trillion tax package.
“U.S. monetary policy cannot reasonably react to the day-to-day give-and-take of trade negotiations,” Bullard said Tuesday in a presentation to the National Economists Club in Washington. He further added that policymakers may need to get accustomed to greater trade uncertainty.
Last Friday, August 2, 2019, we posted an article suggesting this current downside move in the US stock market may be setting up a “washout low” price rotation and we suggested all traders be very cautious over the weekend.
Investing.com - U.S. stocks suffered their worst one-day losses since early December after a trade war between the United States and China abruptly worsened.
Watch the price action and read the order flow on a test of 7510.25 to 7382.50. Buyers may come in on a test of this zone because it represents value. Also, the index is down eight sessions from its last main top, which puts it inside the window of time for a closing price reversal bottom.
It was quite a week for the majors. A hawkish FED rate cut and Trump tweeting tested the majors on the week… A busy economic calendar was also in focus.