Ming Jong Tey
Independent Analyst
Nasdaq 100 could soon break below the support formed during October and November according to this leading indicator for growth stocks — ARKK ETF. Watch the video below to find out the why ARKK is the go to leading indicator to predict the Nasdaq movement based on the Wyckoff method.
The bullish setup vs. the bearish setup is 53 to 581 from the screenshot of my stock screener below.
The inflection point showed up last Tuesday reacting the CPI, which was the perfect short selling entry. After several down days, S&P 500 is short-term oversold and could attempt to rally up. Traders could seek opportunities to sell on the rally for swing trading to the downside.
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EUR/USD remains depressed near 1.1350
The US Dollar now grabs momentum and motivates EUR/USD to return to the 1.1350 zone on Thursday, as investors continue to digest the ECB’s decision to lower its policy rates by 25 basis points, as widely estimated. It is worth noting that most markets will be closed on April 18, Good Friday.
GBP/USD maintains the consolidation around 1.3260
The upside momentum in the British pound remains well and sound on Thursday, underpinning the eighth consecutive daily advance in GBP/USD, which now trades in a consolidative fashion near 1.326. Cable’s strong performance comes despite the marked rebound in the US Dollar.
Gold bounces off daily lows, back near $3,320
The prevailing risk-on mood among traders challenges the metal’s recent gains and prompts a modest knee-jerk in its prices on Thursday. After bottoming out near the $3,280 zone per troy ounce, Gold prices are now reclaiming the $3,320 area in spite of the stronger Greenback.
Crypto market cap fell more than 18% in Q1, wiping out $633.5 billion after Trump’s inauguration top
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Future-proofing portfolios: A playbook for tariff and recession risks
It does seem like we will be talking tariffs for a while. And if tariffs stay — in some shape or form — even after negotiations, we’ll likely be talking about recession too. Higher input costs, persistent inflation, and tighter monetary policy are already weighing on global growth.
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