Archiv für den Monat: November 2022

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Stocks continue to stay under pressure so far today 0 (0)

<p>Here’s a snapshot of the proceedings so far:</p><ul><li>Eurostoxx -0.8%</li><li>Germany DAX -1.0%</li><li>France CAC 40 -0.9%</li><li>UK FTSE -0.6%</li><li>S&P 500 futures -0.9%</li><li>Nasdaq futures -1.1%</li><li>Dow futures -0.6%</li></ul><p style=““ class=“text-align-justify“>The key driver weighing on the market mood to start the week is the lockdown protests across China over the weekend. It’s pretty much the relative uncertainty that is spooking markets for the time being. As mentioned earlier:</p><p style=““ class=“text-align-justify“>“China protests over the weekend is the main story and that is going to be a challenge for Beijing to handle. Such a situation is rare for the country but amid its prolonged zero-Covid policy and reinstatement of lockdown measures, the public frustration is understandable. The „easy way out“ would be to change course and heed the people’s wishes but the main obstacle is that Xi has staked a lot of his own authority on the whole zero-Covid policy approach. Backing down from that now would come at a political cost and will be a blow to Xi’s pride and ego.“</p><p style=““ class=“text-align-justify“>Elsewhere, 10-year Treasury yields are down 3.6 bps to 3.666% while the dollar is sitting more mixed on the day, holding higher against the commodity currencies but lower against the euro, franc and yen at the moment. The latter is the lead gainer with USD/JPY down over 1% to 137.65 with price testing its lowest levels since August.</p>

This article was written by Justin Low at forexlive.com.

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Nasdaq technical analysis 0 (0)

<p>Nasdaq futures technical analysis video (2 and half minutes):</p><p>I like to look for a ’story‘ that a chart tells me (in my opinion) and also follow charts in hindsight to learn where those stories developed, where there were hints on the way, etc. For example, if there was a failed breakout up, bulls are trapped, and will be disappointed, which hints on more down. Or if a key level was almost tested but market is still indecisive or weak, that it will probably be retested again.Markets love to poke around and test various key levels, usually more than once.One should be careful when doing the above on timeframes that are too low, but doing that on a daily timeframe is fine, usually (there is never an ‚always‘ in this game, you gotta live with the doubt and uncertainty embedded into everything we see and whatever we decide to do).Last but not least, PRICE is the MOST IMPORTANT part of the story and right now, Nasdaq futures is dancing around 11700 which is a key level for the battle between bulls and bears. Once the US market opens, traders would benefit in seeing how the 1 hour candles close in relation to that price.As of now, for me, it seems that if 11700 is not going to be protected, so no hourly candle closing abouve 11750, for that matter, then 11570 area is next and I show why that story unfolded in my mind, within the technical analysis video that take 2 and half minutes to watch.Trade the Nasdaq at your own risk. Visit ForexLive.com technical analysis for additional views.<a target=“_blank“ href=“https://www.forexlive.com/technical-analysis“>https://www.forexlive.com/technical-analysis</a></p>

This article was written by Itai Levitan at forexlive.com.

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