Earnings season is a crucial time for investors and analysts, as it provides insights into how well companies have performed over the past quarter and gives indications of their future earnings. In 2023, expectations for US Q1 earnings were low due to economic challenges and rising interest rates. Surprisingly, many companies beat these low expectations, with 75% of S&P 500 companies surpassing forecasts.
Biden’s victory is by far the most likely scenario – USD to lose
2020-11-05 • Updated
Ichimoku Kinko Hyo
GBP/JPY: The GBP/JPY is trading below the Kumo. An upward wave would lead the pair to exit the cloud, confirming a new bullish outlook.
XAG/USD: Silver moves below 50% retracement level. It seems that silver bears still struggle to move higher.
US Market View
Wall Street's main indexes opened higher on Wednesday as the race for the White House went down to the wire, although investors remained worried about the prospect of a contested result. Democratic contender Joe Biden took to the air to declare he was optimistic about winning and called for all votes to be counted, no matter how long it took. President Donald Trump responded in trademark combative style, saying he had won, that "they" were trying to steal the election, and that he would go the U.S. Supreme Court to fight for victory
USA Key Point
- The latest vote count in Michigan now helping Biden
- US October Markit final services come at PMI 56.9 vs 56.0 than expected
- US major indices open higher led by the NASDAQ index
When I started trading stocks a few years ago, I often needed to pay more attention to my technical analysis skills and trust that the market would play fair according to my analysis. I have since discovered that the safer approach to trading stocks is to, more often than not, seek out investing opportunities - that is, catching stock commodities with a potential to rise.
The S&P 500 had a good week due to the impressive start of Q1 earnings and favorable inflation data. In March, the consumer price index rose 5%, lower than the previous month's 6%, and met economists' expectations.
On Friday, the gold price (XAUUSD) retreated from a recent two-week high, facing selling pressure. This decline was driven by hawkish minutes from the FOMC meeting, indicating the Fed's reluctance to cut interest rates. Elevated US Treasury bond yields, supported by a "higher-for-longer" narrative, further weakened demand for gold...
Bearish Scenario: Selling below 22.65 with TP1: 22.34 (intraday) and TP2: 22.02 (swing). Bullish Scenario: Buying above 22.70 with TP1: 22.90.
Intraday and swing scenarios based on price action and volume profile.