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May 25, 2024 | Trading Desk Notes For May 25, 2024
Divergence: while NVDA soared on Thursday, all 30 stocks in the DJIA closed lower on the day (for the first time in 2024) NVDA’s quarterly report on Wednesday was expected to be good. Still, the possibility of it being “less bullish than expected” likely sidelined many bullish traders ahead of the release date because it […]
May 18, 2024 | Trading Desk Notes For May 18, 2024
Gold and copper hit all-time highs this week; silver rallied to 12-year highs June Comex gold futures closed at an all-time high on Friday at ~$2,420, up ~$80 from Monday’s low. The Gold Miners ETF closed at a two-year high. Comex copper rallied above $5 a pound to close higher than the previous record set in March 2022 […]
May 11, 2024 | Trading Desk Notes For May 11, 2024
Despite a quiet, low VOL week, the leading stock indices continued to rally, with the European benchmark index closing at all-time highs. Last week was chockablock with data and event risk; price action was wickedly choppy, and stocks rose. This week was so quiet that you sometimes wondered if the markets were open – and […]
May 4, 2024 | Trading Desk Notes For May 4, 2024
The dominant market theme YTD, “the Fed will stay higher for longer,” softened this week Price action across equity, interest rate and currency markets this week was buffeted by US economic and inflation data, concerns about Treasury and Fed policy decisions, currency intervention by the Japanese finance ministry, and concerns about critical corporate reports. The net takeaway from […]
April 27, 2024 | Trading Desk Notes For April 27, 2024
Is buying the Yen in anticipation of another “Plaza Accord” the Trade of the Year or just another attempt to catch a falling piano? The BoJ did nothing at their scheduled meeting this week, and the Yen collapsed to a new 34-year low against the USD and hit an All-Time low against the Euro (which has only been around for 26 years.) […]
April 20, 2024 | Trading Desk Notes For April 20, 2024
Nasdaq had a lousy week and closed on its lows Benchmark global stock indices had their best-ever monthly close in March, but they all turned lower in April, with some of the former high-fliers getting hit the hardest. Nasdaq closed Friday at a 2-month low, down ~8.5% from March highs. MSFT had its lowest close […]
April 13, 2024 | Trading Desk Notes For April 13, 2024
LATE NEWS: Iran fires missiles into Israel. As much as the market worried that this could happen, there was hope that Iran would not retaliate at this scale. This will likely have a MAJOR impact on markets, especially if Israel and the US counterattack. Is the Fed wrong – again? For traders and investors, the […]
April 6, 2024 | Trading Desk Notes For April 6, 2024
Gold closed at All-Time highs this week, up 29% from the 2023 lows made on October 6, the day before Hamas attacked Israel. Gold rallied over $150 in the last seven trading days, making new highs every day this week and closing at its highs on Friday, as anticipation grows Iran will respond to the attack on […]