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The Nikkei 225 produced a strong gap higher earlier today when the Japanese stock market began its trading, this after a weekend announcement in Japan by the Liberal Democratic Party that Sanae Takaichi has been nominated to lead the government.
Apple retraced after gapping higher, testing $260 as key resistance. Support holds near $250–255, with potential bullish breakout aiming at $275.
Amazon has gapped lower to kick off the trading session here on Wednesday to reach toward the $215 support level, only to turn around and rally significantly. The market looks as if the $223 level could be a bit of a barrier to overcome, but I think at this point in time, when you look at Amazon, it's very difficult not to see some type of admittedly messy, but some type of consolidation range, perhaps between $215 and $237. As we have bounced from this area, I think it's a very good sign that we may continue doing so. Keep in mind that volume in Amazon is maybe a little higher than it's been. So hopefully this is a little bit of accumulation for those of you who are bullish. And we have the 200 day EMA sitting just below that $215 level that of course will come into factor as well, as it is a long-term trend indicator that a lot of other traders will be paying attention to.
The German index has rallied a bit during the trading session on Tuesday as the markets continue to hover around the 50 day EMA. The 24,000 euro level just above is a bit of a large round psychologically significant figure and a barrier. So, with that being the case, I think if we can get above 24,000 euros, that lets the market go much higher, perhaps to the 24,500 euro uh level. That is the top of the overall range. And therefore, I think you need to pay close attention to whether or not we explode to the upside because if we do, that's where we're going. The market also is worth looking at through the prism of dips being opportunities to buy cheap contracts. When you look at the longer term move, the DAX has been rallying for quite some time.
The S&P 500 has been very quiet in premarket trading as we are in a region that I think is going to end up being sideways action in general. This does make a certain amount of sense, considering that the market has been in a very strong uptrend for quite some time, and of course we have major news coming out on Friday in the form of the Non-Foreign Payroll announcement in the United States.
The Nasdaq 100 trades near record levels but faces heightened risk and volatility as U.S. government shutdown fears unsettle markets, with support at 24,600 and resistance at 24,655.
The S&P 500 trades near record highs but faces short-term volatility as U.S. government shutdown fears unsettle markets, with support at 6,651 and resistance at 6,668.
The NASDAQ 100 continues its bullish run, with a 25,000 target in focus while support near 24,000 may offer buy-the-dip opportunities.
Tesla pulled back from $440 resistance, with support near $395 expected to offer a floor before the stock resumes its broader bullish trend.
The NASDAQ 100 pulled back to 24,400 before buyers stepped in, with the broader uptrend supported by Fed rate cut optimism and strength in key tech stocks.
The Nasdaq 100 pulled back from recent highs on Wednesday, testing support around 24,000–23,500 while traders watch for a bounce toward the 25,000 level.
Nvidia is looking a little softer during the trading session here on Tuesday after an explosive Monday. It was announced on Monday that Nvidia was going to purchase a huge portion of OpenAI investing $100 billion in order to expand its footprint across AI. And of course, people got excited. The market shot straight up in the air and slammed right into the $184 level, which had been a previous high. So the question is, can we break above $184? I really don't see anything on this chart that tells me we can't. Although purists would perhaps say this is an inside candle. It’s a Bearish Harami. I don't know about that. That doesn't typically end up being a very reliable signal anyways.
The German index gapped lower to kick off the trading session here on Monday but found buyers after filling a gap from last week. In post-market trading, we are starting to see a bit of buying pressure as well. So, I do think that we continue to be attracted to the 50-day EMA currently at the 23,832 euro level. If we can break that level, then it opens up a potential move to the 24,500 euro level, which has been a bit of a brick wall. The big question on a breakout will be, can we get above Tuesday, September 2nd candlestick? Because if we can, then technically speaking at least, it looks like we should go higher. Short-term pullbacks, we'll continue to find buying pressure, I would anticipate, all the way down to at least the 23,000 euro level, if not the 200,000. day EMA, is 22,670 euro.
Nvidia has been somewhat choppy during the early hours on Monday, as we continue to stay in the same consolidation area that we have been in for some time. All things being equal, this is a market that continues to see a lot of noisy behavior, and it is probably worth noting that we are just simply “killing time” at the moment, as we are trying to figure out whether or not the overall markets can continue to go higher.
The German index rally initially during the trading session on Friday, reaching toward the 50 Day EMA, before pulling back a bit. All things being equal, this is a market that is still in the midst of some type of consolidative action, and we are trying to figure out where to go next. Ultimately, if we can break above the 50 Day EMA, that would be a very bullish turn of events, and it could open up a move toward the €24,500 level
