Weekly Market Commentary | 15.04 – 21.04

Weekly Market Commentary | 15.04 – 21.04
Curious to know what’s happening on the markets this week? Take a quick tour of the latest news, economic updates, and trading setups that will keep you up-to-date and in the know!
  • Today’s shaping up to be busier than your typical Monday! Keep an eye out for:
    • Retail Sales figures from the US. Will consumers be splurging or saving?
    • The Empire State Manufacturing Index is also on the agenda, with expectations set at -5.2. Let’s see how the manufacturing sector is faring.
  • Get ready for a global economic tour:
    • China kicks off with Industrial Production, aiming for a 6% mark.
    • The UK steps in with Claimant Count Change, projected at 17,200.
    • Meanwhile, Canada's inflation figures are expected to rise by 0.7% monthly.
  • Plus, catch speeches from banking bigwigs like Bank of England's Bailey, Bank of Canada's Macklem, and Fed Chair Powell.
  • It's Inflation Day!
    • New Zealand and the UK both take the stage, hoping for 0.6% and 3.1%, respectively.
  • Down Under delivers job data from Australia, while the US reveals its Unemployment Claims. Stay tuned!
  • Wrapping up the week:
    • The UK presents its Retail Sales numbers, aiming for a 0.3% boost. Let's see how the week wraps up!
Setups for This Week:

S&P 500:
  • Primary View: The price has departed from the channel up formation, now navigating within a smaller flag or channel down formation. Sentiment remains negative while bounded by the black lines.
    • This consolidation suggests a potential continuation of the downward trend.
    • Watch for a breach below the lower black line for further confirmation of bearish sentiment.
  • Alternative View: A breakout above the upper black line could signal a reversal, turning sentiment bullish.
  • Primary View: The price has breached a long-term uptrend line, marked in black, signaling a negative trend. Remaining within the boundaries of the blue lines reinforces the sell signal.
    • Continued movement within this range suggests further downside potential.
    • Monitor for sustained movement below the black line for confirmation of bearish sentiment.
  • Alternative View: A return above the black trendline could indicate a shift in sentiment, prompting a buy signal.
  • Primary View: Friday's session closed with a bearish shooting star candlestick pattern, signaling a potential bearish correction. The yellow horizontal support becomes the target for this correction.
    • This pattern suggests downward pressure and a possible retest of support levels.
    • Monitor price movement for confirmation of continued bearish sentiment.
  • Alternative View: A move above Friday's highs could signify a significant long-term buying opportunity, reversing the bearish outlook.
Show More Articles
Axiory uses cookies to improve your browsing experience. You can click Accept or continue browsing to consent to cookies usage. Please read our Cookie Policy to learn more.