GBPNZD has hit the top of the trading range, so now we can close our long trade and we wait to see if a short trade triggers.
Following up on GBPUSD, it is almost reaching the profit target at the top of the channel. ????
Range trading for USDCAD
Stock Market Highlights
While the US markets (S&P 500) continues to make new highs, the number of net highs (total number of stocks on the exchange making new highs vs lows) seems to be dwindling.
This is a worrying sign that the market is only boosted by a handful of large counters.
At this stage, I will remain bullish, but I will reduce my position size.
Although Apple (AAPL) broke new highs, it still feels kind of toppish. Wait for confirmation to short if price breaks a new swing low.
Following up on Apple (AAPL), it has fallen back into the channel as predicted, and triggered a short trade.
As one of the biggest stocks in the market, it could potentially drag down the whole market.
Berkshire Hathaway (BRK) is surprisingly bullish in recent months, after a prolonged sideways move for many months last year.
Following up on China tech stocks (3067), they have hit new lows as predicted. at the moment, there doesn’t seem to be any end in sight.
https://synapsetrading.com/wp-content/uploads/2022/01/Puno-scaled.jpeg19202560Spencer Lihttps://synapsetrading.com/wp-content/uploads/2019/10/logo.jpgSpencer Li2022-01-09 00:00:072022-03-15 16:06:28Weekly Market Wrap: Starting the Year with a Bloodbath!
Overview of the forex markets, will be posting for the stock market and indices next. Stay tuned!
Following up on CHFJPY, it has gone up as predicted, and is very close to breaking new highs.
Looking at the price action of EURCAD, the small pullback is slowing down as it approaches the major support and EMA confluence, so prices could rebound from there.
Following up on EURGBP, it is very near the previous swing low, and is already +160 pips in the money, so you can consider closing the position and taking profit, or at last half the position. ???? Ka-ching!
Following up on USDSGD, it has dropped as predicted, and is now in the money. Will be holding to see if it can test the bottom of the range.
Stock Market Highlights
Following up on the S&P 500, it has hit new ATHs, and the Santa Rally is under way!
China tech stocks (3067) are getting ready to hit new lows.
The KraneShares Global Carbon Strategy ETF (KRBN) looks like it is on a strong uptrend.
Global REITs (REET) doing well after breaking out of the ascending triangle.
Following up on Tesla (TSLA), it has gone up 23+% profit in just a few days, so it is a good time to take profits or partial profits. ???? Ka-ching!
https://synapsetrading.com/wp-content/uploads/2022/01/Fort-Worth-Texas-scaled.jpeg19202560Spencer Lihttps://synapsetrading.com/wp-content/uploads/2019/10/logo.jpgSpencer Li2022-01-02 00:37:052022-03-15 16:07:17Weekly Market Wrap: Stocks Having a Santa Rally?
https://synapsetrading.com/wp-content/uploads/2021/12/christmas.jpg15362048Spencer Lihttps://synapsetrading.com/wp-content/uploads/2019/10/logo.jpgSpencer Li2021-12-26 10:20:512022-03-15 16:07:57Weekly Market Wrap: Alt Coin Season is Back!
Last weekend, we conducted another online workshop on tech stocks and cryptocurrencies, and since it is a SkillsFuture Credit-Eligible Course, participants could use their SkillsFuture credits to pay for the course instead of cash.
Thanks for the support! ?
During the 8 hours of training, participants learnt how to analyse and value technology stocks to find hidden gems, portfolio strategies to invest in cryptocurrencies, and the latest developments in the field such as DeFi, Stablecoins, dApps, DAOs, DEX, NFTs, Metaverse products, etc.
Here is some of the feedback and learning points from participants, after our hands-on market analysis session to find trading opportunities in the market.
If you are keen to learn more using your SkillsFuture credits, you can check out our courses: