Hello everyone, finally after two weeks I’m back with a new webinar that we will have today at 3:00 p.m. Central European Time.
As you know, while I was away, we have seen the dollar making an interesting pullback to the downside, but it’s now testing some key support levels, while at the same time stocks moved higher. However, there is still plenty of inflation risk with the unclear situation in the Middle East, since the US-Iran deadline for an agreement has expired, so crude oil is once again moving to the upside.
At the same time, US yields are also recovering while stocks are pulling back. Looking at US Treasury futures, we think the market could retest the lows, while stocks have been moving lower since yesterday.
Ideally, we are now in a new ABC retracement on the Nasdaq 100, so it may take some time before we see a new turn higher on US indices. Important support for the technology sector comes in around 29,130, but of course we would like to see a three-wave drop into that area. After this pause, I would not be surprised to see more gains, ideally once the US 10-Year Treasury futures complete this wedge formation somewhere around new lows.
I will cover this and much more in our webinar later, so make sure to be with us. CLICK HERE
GH
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