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[GVI Forex 2]

Watching the debate and initial market reaction suggests not so much that Trump is winning but that Biden is blowing his chance.

Still some time to go in the debate

[GVI Forex 2]

USDJPY 4 HOUR CHART –  .WHERE IS THE BOJ/

 

U

USDJPY is in UNCHARTERED waters where the only resistance worth noting is the new high (160.87).

In the absence of key chart levels, this is the the path if it stays and distances above 160

162.00 – 163.50 – 165.00

To state the obvious, back below 160 is needed to negate the risk.

As for intervention, don’t dismiss the risk but for now the market is trading as the BOJ has been taken out.

 

[Belgrade Bobby]

AMD – Advanced Micro Devices Inc.

Looks like it found a support for now, but has to break above 175.00 to confirm more to come.

[Belgrade Bobby]

Chewy Inc. CHWY

Yet another Meme Stock making history…This is a Dog food producer…

Based on 21 Wall Street analysts offering 12 month price targets for Chewy in the last 3 months. The average price target is $24.98 with a high forecast of $35.00 and a low forecast of $16.00.

Seems as a Roaring Kitty screwed up even more people , now on this one.

Someone was buying that top….Get serious people…

[Belgrade Bobby]

Amazon – AMZN

Amazon hits $2 trillion valuation.

Revenue lands at $575 billion.

Firm survived dot-com crash.

Amazon stock  AMZN rose above the monumental $2 trillion milestone for the first time after investors scooped up its shares to a 3.9% daily increase on Wednesday. The corporate giant became the fifth company to hit the lofty milestone

[Belgrade Bobby]

GME – GameStop Corp.

Lame and without any strength – Loss of 22.55 leads it to 16.70

[Belgrade Bobby]

Apple – AAPL

Apple Battles With The EU Over App Store Policies While Their 30% Recovery Could Propel Their Stock To New Record Highs
Apple faces scrutiny from the European Union for potentially violating the Digital Markets Act.

Despite legal and regulatory challenges, Apple’s financial performance remains robust, regaining its position as the world’s second-largest by market capitalization.

 

[GVI Forex 2]

USD500 4 HOUR CHART –  .GLASS HALF EMPTY OR HALF FULL?

 

You can get lulled into a feeling there is a top after failing to hold above 5500 but when you look at how far it has climbed this month then some consolidation should not be a surprise.

Looking at this chart, a 50 point range this week seems too tight to last but don’t read too much into what happens tomorrow as it is quarter end.

[Belgrade Bobby]

NVIDIA – NVDA

Nvidia Price Target Raised to $140.00/Share From $128.80 by Truist Securities

Technical view – Correctional phase ongoing.

118.00 & 116.00 Supports

[Belgrade Bobby]

NASDAQ – NDX

US equity indexes rose in choppy trade after a surprise increase in durable goods orders coincided with an upward revision in the final estimate for Q1 economic growth.

The Nasdaq rose 0.2% to 17,833.2 after midday Thursday

[GVI Forex 2]

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[Mtl JP]

THE DEBATE addendum
–
At the end making closing statement
Trump will be last to speak.

I think THAT is huge advantage from a communications point of view

[GVI Forex 2]

USDCHF 4 HOUR CHART – .9000 LOOMS?

Currently trapped between .8942-52 and .8983-93, closer to the top end with .9000 looming.

[SF Monedge]

JP – I kid not, this is the absolute truth.  As a former boxer who was competing every day/night to be a backup on the US boxing team eons ago, and was insured by USA boxing until 2014, this is my take …. What if it is a dual technical knockout?  One match we both scored a technical knockout with the very same punch at the very same time and were sitting there on the mat looking at eachother laughing trying to shake it off.  Became friends.  What if a draw?  A lot of wine in homes across the world will have been wasted and the market will not know what to do lol.

[Mtl JP]

THE DEBATE
–
Allegedly a high stakes consequential political debate

As a student of debates, I take note that (both have agreed)
– microphones muted when the other is talking
– debaters will be standing (for 90 minutes)
– they ll each have two minutes for answers and one minute for rebutle
– there will be split-screen for reaction (I suppose body language interpretations)

Some suggest that “biden might surprise” (implication being as an underdog land a knockout)

Others are mumbling that the dems have been for a while now trying to jettison the man with an ego (that would be joe) from running. So the question is if the debate is poison chalice to sink joe and immediately the next day – a Friday – execute a biden switcheroo.

And so there is the one unknown in my book: how would market players react if biden gets kicked off on the garbage heap of history.

[SF Monedge]

Explanation for UsdChf sell is as follows and a comment on Amazing Trader:  This market is not going to test the fence much before PCE tomorrow (barring a post-debate rash).  They may well challenge the figure (9000) but not with much conviction one would think and so are widespread algorithms in use on an automated scale by banks in current market conditions.  Therefore, and considering I am in a contra-trade mood this week, shorting dollar.  Verifiably 9/10 of my approach, like most CTA’s is to trade with momentum not against it.  At times it may apply though.

I have my own system, however …. If you look closely at Amazing Trader, it will verify what and what is not proper momentum entry.  For anyone, regardless of expertise level, that is of immense value.

[GVI Forex 2]

EURUSD 5 MINUTE CHART – WHY II LOVE AT

One look at this chart (and I could have posted something similar in other currencies), tells me why I love The Amazing Trader (AT)

Look at the falling blue (called ladder) lines. It paints a clear picture.

At a minimum, it tells me that the market had shifted direction and not lto ook to buy a dip. That train had passed.

At best, go with the momentum.

In any case, 1.0700 was tested, holding so far and limits downside as long as it holds.

[SF Monedge]

JP – Too many truffles and caviar goes to the head and may be a root cause of … “Catch me if you can” syndrome.  Side note, I just made the forever preached against and forbidden “anger trade” in UsdChf (sell side).  If it wins and no one realizes the crime I will claim excellence.  Like Janet.

[GVI Forex 2]

Markets reverting to form with another fakeout, this time on the USD downside.

[Mtl JP]

SF yellen just keeps on displaying her stupidity

how can she NOT think that folks will verify her statements on this day and age of fact-checking for lies, falsehoods and mendacity

and this is a person who traipses around the world stage throwing arounds threats of sanctions and alleged serious consequences thinking she is a world “statesman”

[Author]

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