We have another strong Sunday night session on our hands and U.S. benchmarks are picking up right where they left off Friday.
The market profile isn't just another tool to help establish levels. It also helps you from falling out of sync with your market which causes the wrong trades to be taken or mis-timing of trades and mis-management of expectations.
U.S. benchmarks are again on their backfoot. All major sectors finished in the green yesterday except for healthcare.
A narrative of ours is that “markets don’t like uncertainty.” In fact, we’re very bullish equity markets from these levels after the election, because regardless who wins there is either some certainty or less uncertainty coupled with accommodative Federal Reserve policy.
Price action is peeling back a bit ahead of the open after achieving the feat and the Nasdaq-100 index is about 0.75% from its overnight high. Flash PMI data out of Europe this morning was mixed.
Each day on the European market opening Anthony Cheung, Sam North, and Amplify Trading gets you prepared for the trading day. They focus on relevant macroeconomic insights and trade idea generation for the global macro futures markets.
Today’s news is a great example as to the market paying attention to the headlines it wants; something we often discuss. If stocks haven’t already been vulnerable, or in a healthy correction pattern, we may not be seeing such damage across the banking sector weighing on the market broadly.
Tesla, arguably, has been the barometer of irrational exuberance. The stock was pointing lower by 15% ahead of the bell today.
Although our goal was never to pick the exact top, the timing of our warning was perfect. Furthermore, we wouldn’t be surprised to see U.S. benchmarks pare the bulk of yesterday’s losses and finish the week on a strong note.
If you’ve lived in a bunker since April, then you may have missed the memo; the USD has been the sacrificial lamb for not only buoying the economy, but the stock market.