Weekly Market Wrap: Stock Market Rebound?

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Last week, our focus shifted from crypto and stocks to the forex market, where several strong trending moves were taking place.

Stocks and crypto have been moving largely in tandem, and are currently having a rebound against the larger downtrend.

How long will this rebound last, and when will the downtrend continue?

Stay tuned on our “Daily Trading Signals” Telegram channel to find out!

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For our weekly market wrap, we go through some of the trade calls and analysis from last week, which gives us valuable insights for the week ahead.

We cover 3 main markets with a total of 200+ counters, so we will never run out of trading opportunities:

Forex, CFDs, commodities, bonds
US stocks, ETFs, global stock indices
Cryptocurrencies, crypto indices

By covering a broad range of markets, we can focus our attention (and capital) on whichever market currently gives the best returns.

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Forex & Commodities Market Highlights

With oil and commodities on an uptrend, it is no surprise the commodity-linked currencies are at the top.

Product: Forex
Name: British Pound / Canadian Dollar
Ticker: GBPCAD
Exchange: N/A

Analysis: The strong downtrend continues after a small pullback. We can try to continue riding the trend.

EP: Current price, or on pullbacks
SL: 1.599
TP: 1.532

Product: Forex
Name: Australian Dollar / Japanese Yen
Ticker: AUDJPY
Exchange: N/A

Analysis: There was a nice pullback to the support level in the form on a large bull flag.

Though it is a bit late because price has moved quite a bit from the flag breakout point, we can still look to enter on pullbacks.

EP: Enter on pullbacks
SL: 91.00
TP: 99.00

Stock & Bond Market Highlights

https://www.wsj.com/articles/oil-prices-hit-two-month-high-as-china-eases-lockdowns-11653933068

Just writing Global Macro Investor over the weekend and as ever, I like to share a few insights.
The narrative on Twitter is that tech is dead. The reality is that the Nasdaq has just reverted back to trend – 150 week moving average 1/ pic.twitter.com/JpEi0754Si
— Raoul Pal (@RaoulGMI) May 30, 2022

Product: US Stock Index
Name: NASDAQ 100
Ticker: US100
Exchange: N/A

Analysis: The rebound is pretty strong, and on this 4-hour chart, it has formed a double bottom, broke out, and formed a bull flag at the breakout point.

We can consider taking a short-term trade by going long now with a tight stoploss.

EP: Current price
SL: $12420
TP: $13520

Click here to receive all these signals in real-time for only $67 a month! You will get 5-10 signals a day, and even taking just 1 trade the whole month can easily cover the fee, so what are you waiting for?

Good luck, and may next week bring more excellent profits!