NAS100 4 HOUR (CFD): Obstacle cited

While extending its high above 28338 is encouraging, a break of 28909, the equivalent level to US500 7718, needs to be broken to negate any lingering downside risk and put bulls in control.

Otherwise, dependent on 28000 holding as support to keep a bid although only a break of 27405 would negate the current up episode.

USDJPY 4 HOUR: 160 LOOMS

USDJPY will be a focus following the breakout of a 2+ month range top at 159.03 put 160 on the radar. While talk will be whether the BOJ looks to defend 160 (watch for verbal intervention), the level it does not want to see broken is 160.38. Othewrwise, only sub 159 would dent the risk.

Market Update: Breakouts

USD: EURUSD consolidating after extending its low (USDJPY 160 looms) NAS100 extending high, break of 28338 negates last leg down, 28909 is next hurdle. Crude oil firms today

NAS100 4 HOUR (CFD): Key level cited

Key level to breaking down momentum remains at 28338, with the move up today pausing just below it. On the downside, needs to stay above 28000 to keep an eye on 28338 but keeps a bid as l;ong as trade is above 27405 and the up trendline.

EURUSD WEEKLY: Long standing target

It seems eons ago that Bobby and I both pointed out 1.1065 as a potential target.

The break to a new low has put it on the radar but that would depend on whether 1.1104 becomes resistance.

If not, then needs to trade below 1.1131 to stay offered.

A firm break of 1.10965 would put 1.10 on the map.

The US30 index (cash) is 📈trading sideways 📉for a second straight day between 52,250 and 52,450

Us100Cash found support 📈 above $26K & everybody’s now 📈 buying the dip & aiming higher 📈

USDJPY DAILY: Trying for a breakout

As noted yesterday, the break of a 7-day pivot around 158 sent a bullish signal.

The break of this pattern along with higher US bond yields and a generally firmer USD made the BoJ’s job a lot more difficult if it chose to defend 159.03, which has been the top of the range since the start of September.

Should the break above 159.03 be extended, there is a clear path to 160 although a nervous one given the intervention threat.

Current supports; 158.65-75.

Market Update: Indices

Tech leads a holiday thinned equities rally following CoreWeave reporting strong third-quarter results that eased, at least for now, concerns over a broad slowdown in AI infrastructure spending.

Key levels on these CFD charts: US500 7576 (being tested), NAS100 28338

Market Update: Indices (CFDs 4 HOUR)

At this time yesterday the focus was on down trendlines, especially the NAS100 and then shifted to the up trendlines today as risk off took over as bond yields spiked following the hotter US CPI.

This leaves both indices in limbo heading into the Veteran’s Day holiday where liquidity will be thinned by government and banks closings while stock markets are open. Canada is closed for a holiday as well.

See charts for levels to watch.

XAUUSD 4 HOUR: 4000 back in play

On the defensive after supports failed to hold following the retreat from a stall below 4155.

This leaves it dependent on 4000 holding to prevent higher lows, starting at 3917, coming into play.

S&P 500 falls below 7,500, wiping 📉out more than $500,000,000,000 in market capitalization today after hot CPI data raises📈 Fed rate-hike bets.

ßitcoin edging 📉 lower below $75K

NAS100 (NASDAQ) 4 HOUR (CFD): Relief rally or more to it?

The bounce from the 26638 (red line) higher low so far stalled above 28000 as the descending trendline held. On the downside, break of the trendline drawn off higher lows and 26638 would be needed to expose the 26244 swing low. Otherwise, to make it more than a relief rally where 28336 resistance that preceded the 26244 low is the key level to break to challenge the downtrend.

CME FedWatch: Dec 9 FOMC (50bps hike on the table)

89% for 25bps hike, 11% for 50bps hike 2 year yields 4.687%, +0.14