Meaningful SPX breakdown

Monica Kingsley Monicakingsley

S&P 500 didn‘t stop at crucial 5,240 support, and cut through with utmost ease – no longer within a tight range, and this is not the kind of entry to a fresh week buyers want to see. Obviously it had to be played fast on the short side to generate gains for clients, which I did for both swing and intraday ones – the question that swing traders must ask, is whether we‘re oversold enough, or not yet?

The readings aren‘t yet quite near the extremes, and USD is still declining while winning plays talked at length both Saturday and yesterday got moving some more. Today‘s extensive video deals with the prospects of S&P 500 coming back or not, and also gold, silver, oil and BTC while USD is having hard time rising, and it‘s not just about still no country deal announcements (or at least vibes), or Powell… as he‘s being prepped for the fall guy role, e.g. for not cutting and insisting tariff consequences would be larger than earlier anticipated and inflationary.

And foreign money flows are leaving the US, with Treasuries and USD alike pressured. And we‘re nowhere near e.g. any great tax refunds announcements – all the pain is being frontloaded, within months midterms will get into focus, which is the time to get pro-business while now tackling trade deficits with the blunt tariff tools hitting supply chains left and right.

Little wonder that the sectoral view remains risk-off, and consumer is fearful. As per one of the fruitful weekend calls, Bitcoing is going up, so make sure to review the latest videos and premium calls…

Author

Monica Kingsley

Monicakingsley

Monica Kingsley is a trader and financial analyst serving countless investors and traders since Feb 2020.

EUR/USD hits two-day highs near 1.1820

EUR/USD picks up pace and reaches two-day tops around 1.1820 at the end of the week. The pair’s move higher comes on the back of renewed weakness in the US Dollar amid growing talk that the Fed could deliver an interest rate cut as early as March. On the docket, the flash US Consumer Sentiment improves to 57.3 in February.

GBP/USD reclaims 1.3600 and above

GBP/USD reverses two straight days of losses, surpassing the key 1.3600 yardstick on Friday. Cable’s rebound comes as the Greenback slips away from two-week highs in response to some profit-taking mood and speculation of Fed rate cuts. In addition, hawkish comments from the BoE’s Pill are also collaborating with the quid’s improvement.

Gold climbs further, focus is back to 45,000

Gold regains upside traction and surpasses the $4,900 mark per troy ounce at the end of the week, shifting its attention to the critical $5,000 region. The move reflects a shift in risk sentiment, driving flows back towards traditional safe haven assets and supporting the yellow metal.

Crypto Today: Bitcoin, Ethereum, XRP rebound amid risk-off, $2.6 billion liquidation wave

Bitcoin edges up above $65,000 at the time of writing on Friday, as dust from the recent macro-triggered sell-off settles. The leading altcoin, Ethereum, hovers above $1,900, but resistance at $2,000 caps the upside. Meanwhile, Ripple has recorded the largest intraday jump among the three assets, up over 10% to $1.35.

Three scenarios for Japanese Yen ahead of snap election

The latest polls point to a dominant win for the ruling bloc at the upcoming Japanese snap election. The larger Sanae Takaichi’s mandate, the more investors fear faster implementation of tax cuts and spending plans.

XRP rally extends as modest ETF inflows support recovery

Ripple is accelerating its recovery, trading above $1.36 at the time of writing on Friday, as investors adjust their positions following a turbulent week in the broader crypto market. The remittance token is up over 21% from its intraday low of $1.12.