Get started

Bankearnings

AUD/USD - Australian dollar takes traders for a wild rideThe Australian dollar has steadied on Monday, trading just above the 0.67 level. We could see further movement from the Aussie early on Tuesday, as China releases GDP. The markets received another clear sign on Friday that the US economy is slowing, after a disappointing March retail sales report. Headline retail sales fell by 1% and the core rate by 0.8%, worse than expected and marking a second straight decline for both. A soft US retail sales report is usually a recipe for US dollar weakness, but that wasn't the case on Friday, as AUD/USD fell by 1%. The US dollar received a boost from strong earnings results, higher inflation expectations and some hawkish Fed speak. Bank earnings impressed on Friday, with strong results from JP Morgan, Citigroup and Wells Fargo. This indicates that the bank crisis has been contained for now, although further contagion cannot be ruled out. On the inflation front, UoM inflation expectations for 12 months jumped 4.6% in April, up sharply from 3.6% in March. Consumer confidence has been on the low side as inflation remains high, and the weak retail sales report was clear proof that consumers are spending less due to high inflation and rising rates. Fed member Waller had a hawkish message on Friday, saying that the Fed would need to continue raising rates because inflation is "far above target" and the labor market remains "quite tight". Waller warned that the Fed would have to keep rates at a high level for an extended period and for longer than the markets expected. Fed member Bostic said he supported one or two more 25-bp hikes to end the current tightening cycle. The likelihood of a 25-bp increase in May has jumped to 80%, up from 68% prior to the retail sales release. There is resistance at 0.6897 and 0.6791 AUD/USD tested support below 0.6700 earlier today. The next support level is 0.6608
by OANDA
$SPY $SPX $ES1! Analysis, Key levels, and Targets $SPY $SPX $ES1! Analysis, Key levels, and Targets I honestly love TA so much. It’s so fascinating to me. Those who trade without TA, like say, just using the option chain, are really missing out on a cool thing…. Not a huge change since yesterdays update, but we did get into the gap but failed to fill it and were rejected at the Daily 200MA… Tomorrow we have some Bank earnings (JPM, BAC) in premarket (8:30) and so will start the earnings season - and I’m super excited about it all… I just want to add that I do love being bullish, but today I was driving around and really started to notice the amount of commercial real estate vacant with for lease signs… and I remember 07 and how that was the first signal that something was wrong…. I want to be bullish - but I just am not yet… but there are so so many amazing opportunities in a bear market… and if done right - this is where the generational wealth comes from…. I did add to my 410 put position in April… I’m now 8 deep with an average of 22.31 - I absolutely had to with VIX so low today - and I covered my short 379 puts expiring tomorrow for 97%, looking to sell for next week tomorrow…. And thanks so much for the super awesome support about the video… I will definitely be doing more of that soon!! Hopefully I’ll lean into doing mostly video… I know it’s a pain to read my long rambles sometimes… LOL… so it will be easier on all of us… Have a fun day trading tomorrow, y’all… 💃🏻 P.S. Yes stupid willy looks like it might cross up… but I’m reading the weakness before it, all of the chop during the holidays as just that, holiday chop…. I don’t see much strength in that cross up and RSI and MacD aren’t supporting a cross up yet…. So lets see how these first earnings go…
AMEX:SPYShort
by SPYder_QQQueen_Trading
2