Market Updates at a Glance: 08 March 2022 (Tuesday)๐
โS&P 500 on the Brink of Technical Collapse. A Risk-off mood Spurred Demand for Safe-haven Assets.
โคUS stocks plummeted with Dow -2.37%, S&P 500 -2.95% & Nasdaq -3.62%
On technical front S&P 500โ๏ธ
-Price broke below the Head & Shoulder Neckline, with lower highs of the right shoulder.
-checkout my previous post about the target prices/levels to watch.
โคThe US dollar index jumped to above 99 with 10-year Treasury yield rebounded higher at the support level 1.7% to 1.77%.
โคGBP plunged to 1.31 (-1%) , the lowest level since Sep 2000. EUR continued with the downtrend, slipped to 1.085, near the Feb20's low.
โคOil (Uk oil) narrowed its gains on Monday, closed at $124.09, with intraday high hit $138.
On technical front:โ๏ธ
-yesterday's candle is a high wave candle, it indicates indecision of the market, foresee some weakness unless price retest the high of $138.
โคGold jumped to near $2000 as VIX (Fear Index) was constantly high, closed at 36.
On Technical Front:โ๏ธ
Resistance: $2000 (big round number), $2030, $2060.
โคBTC & XRP in sideways, BTC near $38,000, XRP near 0.7200.
โCheck out my previous post about the Head & shoulders pattern in S&P 500:
lnkd.in/eGFgNhuc
โLike & follow so you won't miss any market updates โ
lnkd.in/d38iHCkV
lnkd.in/drqzGXUj
โคUS stocks plummeted with Dow -2.37%, S&P 500 -2.95% & Nasdaq -3.62%
On technical front S&P 500โ๏ธ
-Price broke below the Head & Shoulder Neckline, with lower highs of the right shoulder.
-checkout my previous post about the target prices/levels to watch.
โคThe US dollar index jumped to above 99 with 10-year Treasury yield rebounded higher at the support level 1.7% to 1.77%.
โคGBP plunged to 1.31 (-1%) , the lowest level since Sep 2000. EUR continued with the downtrend, slipped to 1.085, near the Feb20's low.
โคOil (Uk oil) narrowed its gains on Monday, closed at $124.09, with intraday high hit $138.
On technical front:โ๏ธ
-yesterday's candle is a high wave candle, it indicates indecision of the market, foresee some weakness unless price retest the high of $138.
โคGold jumped to near $2000 as VIX (Fear Index) was constantly high, closed at 36.
On Technical Front:โ๏ธ
Resistance: $2000 (big round number), $2030, $2060.
โคBTC & XRP in sideways, BTC near $38,000, XRP near 0.7200.
โCheck out my previous post about the Head & shoulders pattern in S&P 500:
lnkd.in/eGFgNhuc
โLike & follow so you won't miss any market updates โ
lnkd.in/d38iHCkV
lnkd.in/drqzGXUj