12 May 2022

Another sinking of U.S. stock markets and futures today… – #SP500 #Nasdaq100 FTMIB #Oil – May 12, 2022 (pubblicato alle ore 09:30)


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U.S. consumer price index data favor the possibility of large Federal Reserve rate hikes

As written in yesterday’s post, watch out for the dead cat bounce. The weight of global problems and the withdrawal of central bank stimulus are driving big money into a strategic retreat. And the small fish, supporters of Buy the Deep, are in danger of falling by the wayside this time.

This morning German futures indicate -2.21 percent and for the eurostoxx -2.38 percent, that on the Nasdaq -0.47 percent and on the SP500 -0.51 percent

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Yesterday closures

  • FTMIB 2,84%
  • DAX +2,17%
  • EuroStoXX +2,62%
  • Nasdaq 100 -3,06%
  • S&P500 -1,65%

VIX 32,56 -1,3%

BTP/Bund spread is at 195.0 and oil is up to $104.40 / barrel

Analysis and signals on 1-day candlestick

The period we live in is about volatility. So we need to organize trading accordingly.

Bitcoin & Co. sink with double-digit numbers, burning assets. Yesterday even the likes of Apple burned value. Apple -5.18% Tesla -8.25% Microsoft -3.32%. What about the stock memes of some time ago ? Coinbase -26.4% yesterday alone, AMC -12.42%, Robinhood -12.08%.

The Nasdaq Composite retraced 50% fibonacci yesterday, losing 30% from its peak

Nasdaq composite – weekly

S&P 500 

The sp500 seems definitely headed for the targets indicated, so far it has lost 18% from its top and we have not even reached oversold on a weekly basis.

  • TP1 3830
  • TP2 3470
  • TP3 3000
Sp500 – daily

SP500 trading signals

Nasdaq100 

The Nasdaq100 like by the way the SP500 has arrived on the lower end of the bearish channel.  Theoretically it should act as support, but ADX is up and above at 35%, daily oversold is close but not yet reached.

NAsdaq 100 – daily

Nasdaq 100 Trading Signals

FTMIB

Yesterday we took home a significant drop in the spread, and today it seems to be holding. We’re still at 191, which is a big blow to the cost of running government debt. Draghi says he sees no risk of going into recession. But Germany is holding back and China is also suffering. We can only hope that yesterday’s meeting with Biden brought home some financial support that will sustain us in the coming difficult months.  On daily candlestick the adx looks less strong than previous days and we see a small bounce in the RSI. But the weekly picture is definitely negative. Best not to get our hopes up.

Ftmib – Daily

FTMIB Trading Signals

Oil

Oil still remains below Kumo after the May 9 slap. The indexes are all still flat waiting to find direction.  From a weekly perspective, the trend is resting on the 20-period average, which is acting as support. So holding the price level indicated by the 20-period weighted average is crucial to push the heats upward.


Petrolio Future – Daily

OIL Trading Signals


This is only our trading and not an invitation to trade in the financial markets.

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