Gold lost the $4,400 support ahead of Friday’s NFP. The trend remains bearish, so I’m watching for short opportunities on rallies, with $4,350-$4,355 resistance and $4,320-$4,325 support.
$DELL
reports after the close, with revenue expected near $44.9B and EPS around $4.92. Server and networking revenue is expected to be the key growth driver.
Bond yields are pushing higher, keeping pressure on risk assets. Tech, memory, optical, and software stocks are broadly lower premarket, while oil gains 2% and gold, silver, and crypto remain under pressure.
On top of that, tensions in the Taiwan Strait have flared up again. Oil prices are climbing while gold has pulled back. After bouncing off the $4,400 support level, gold is now oscillating between $4,430 and $4,460 today. For now, the primary strategy remains selling on rallies.
Gold price action right now is completely erratic, and technical analysis is failing across the board. It is best to stay on the sidelines and keep watching.
For gold, the nonfarm payrolls revision is going to trigger some heavy volatility. It is best to stay on the sidelines for now.
According to multiple tech media and supply chain reports, Apple may unveil its first foldable iPhone Ultra on September 9, potentially boosting the stock as market expectations remain high.
Marvell fell 8% premarket as earnings missed lofty expectations, while Gap jumped nearly 17% after raising its full-year profit outlook. Markets are becoming more demanding on earnings.
Combined with the nonfarm payrolls revision, Warsh's speech is going to fuel market volatility. Today is a great setup for short term traders to play the swings and buy low while selling high
Nvidia’s earnings beat should lift AI infrastructure stocks. BE and TER are positioned to benefit, with a break above recent resistance potentially starting the next leg higher.
CRM delivered better than expected earnings, lifting software and cybersecurity stocks. This is also a positive catalyst for another stock we positioned in ahead of time.
Gold’s broader uptrend remains intact despite the recent pullback. This afternoon is our regular short term trading session. Make sure your account is ready, set aside some time, and join us for today’s practice trade.
Nvidia’s earnings have kept the AI narrative going, and we expect an active session today. As we noted over the past few days, market pullbacks can create attractive entry points in high quality stocks. The positions we built ahead of time are now gradually moving into profit.
Rebounding oil, falling gold, and rising Treasury yields signal market volatility and a short-term pullback.
The aerospace sector saw wide swings today due to RKLB's earnings and SPCX's rally. Since SPCX surged last week, profit-taking could happen anytime this week, capping upside, so expect a pullback after a spike.
Weekend news and data were pretty quiet with nothing major. Today's market will move in a tight range, making it a great chance to observe. Some stocks will rise on the occasion, while others get sold off.
The bull market in gold has officially arrived, aligning completely with our Monday forecast. When the stock market lacks a clear direction, rotating into alternative trading markets is the better choice.
The stock market is volatile, gold is surging, crude oil pulled back from low levels, and crypto has no major moves. That is how the market looks. Different timeframes and different markets behave and trade at their own pace.