The risk-on bias from earlier in the week seems to have fizzled. US Retail Sales was better than expected but the increasing US Covid infections and disappointing Unemployment data, along with some Earnings jitters, made for some indecision. Netflix has fallen after market close on its earnings miss so tech will be a space to […]
US stocks gapped higher on Goldman Sachs earnings but key resistance still lies ahead for many instruments ahead of a day with lots of high-impact data.
I had warned on Saturday that the FX Indices were aligned for LONG EUR$ and this has proved to be the best advice for this week with the EUR/USD giving the cleanest of moves thus far.
Markets switched to risk-on last session despite the rise in US Covid cases. The back and forth between risk-on and risk-off is akin to flicking a light switch making trend trading very challenging at the moment. You need to choose your battles (read: trades) wisely at the moment as the recent GBP/USD Descending Wedge trade […]
US stocks closed lower on Tuesday as, for some reason, Covid became an issue today. It wasn’t an issue yesterday but today it was. Regardless of this prevarication, I have been warning for weeks about the need for caution as Volume and Momentum continue to decline with this latest S&P500 rally. Divergence is always a […]