Nasdaq

It’s been a tough period for the S&P 500 and Nasdaq 100. But substantial moves in one direction rarely last long, especially when they occur quickly. With bulls successfully defending Monday’s lows despite significant selling pressure, and with price signals hinting we may have seen a near-term bottom, long setups may be worth pondering.

After starting the day well in the green, the major US indices were coming under a bit of pressure again at the time of writing, with investors unable to shake off the recent turmoil impacting financial markets. For now, the Nasdaq 100 forecast remains mildly bearish after the recent breakdown. More evidence of a bottom is needed to excite the bulls again even if there is a sense of calmness observed in price action over the past two days or so.

We’re seeing signs of market stability after a volatile and bearish start to the week. Wall Street indices clawed back some of Monday’s losses. And that could see support for metals such as gold, silver and copper. At least over the near term.

Risk appetite made a swift comeback when the Fed opened the door to beginning their rate-cut cycle in September. The question is whether Wall Street indices, gold or WTI crude can extend their gains.

U.S. stocks point to a higher start as they recover from the weakness over the past few sessions, which saw the S&P 500 fall to a six-month low. An improved market mood and optimism of a soft landing helped lift stocks even as inflation was stickier than expected. Core PCE, the Fed's preferred gauge for inflation, remained at 2.6% YoY but personal spending remained solid at 0.2%,

U.S. stocks have halted the deep sell-off. Better-than-expected economic growth in the second quarter helped to ease fears that the Fed may need to rush rate cuts to prevent a recession. Personal spending, the key driver for the US economy, was stronger than expected, and PCE cooled. The modest move higher comes after the Nasdaq experienced its worst one-day selloff yesterday since 2022.

After a hefty pullback, 19k looms for Nasdaq futures traders. Yet the higher timeframes suggests there could further downside even if it manages a bounce from nearby support. The ASX may fare better as its pullback is so far pale in comparison.

U.S. stocks are rising, adding to yesterday's gains as US elections remain in focus and earnings season ramps up. Kamala Harris appears to get the backing of the Democrats. Attention is also on Tesla and Alphabet ahead of their earnings release after the close. Tesla traded up 25% in July, and Alphabet is up 30% this year, so expectations are high.

Futures traders may be heavily net-short Swiss Francs, but the rapid rise of the currency this week ahead of the SNB meeting suggests some are wary of being caught short a less-dovish central bank.

Nasdaq Outlook: The latest monetary policies reversed the euphoric market trends, but not for Nasdaq

US stocks point to a higher open after the Fed's preferred gauge for inflation cooled more than expected. Core-PCE eased to 0.2% MoM in April, its weakest reading in six months, which will comfort the Fed. Inflation appears to be moving in the right direction, albeit at a slow pace. Attention will turn to next week's busy economic calendar for more clues on te health on the economy and when the Fed could start to cut rates.

I suspect we're seeing the early moves of a pullback of appetite for risk in general, which saw traders push Wall Street indices and gold lower on Wednesday thanks to weak treasury demand. And it seems to be paving the way for the next leg higher for the USD.

US stocks edge lower as traders return from the long weekend break and look ahead to inflation data later in the week. The data comes as the market remains fixed on when the Fed could start to cut interest rates. Expectations have been pushed back after a strong of Fed officials warned that they need to see more evidence of inflation cooling before cutting rates.

We have four full trading days left in the month, and odds favour another bullish month for US indices. However, price action on the daily timeframe has alerted me to a potential pullback, while VIX futures and market positioning are also sending smoke signals to be aware of.

US stocks are opening higher after losses yesterday when fears over high interest rates for longer overshadowed Nvidia's impressive results. Fears that a strong US economy and sticky inflation could prevent the Fed from loosening monetary policy, combined with lower volumes ahead of the long weekend, could see gains limited.

The record highs created for gold and Wall Street this week appear to have been bad omens, with sharp bearish reversals forming and rate-cut bets being slashed.

It has been a rather mixed day for risk assets. Things started brightly for US markets, but at the time of writing the major indices were sharply either lower or in the case of the Nasdaq well off its earlier highs. Our Nasdaq 100 analysis could turn bearish in the short-term outlook, if the index closes today’s session lower.