This morning's NFIB Small Business Optimism Index showed disappointing results. The index was expected to show small businesses had less optimism with the index forecasted to fall 0.1 points month over month down to 93.6. 

After a brief recovery yesterday, the overall crypto market once again appears for a massive decline.

Higher S&P 500 high was made as per premium predictions, and the same goes for selloff at the open bringing sizable intraday gains to clients.

This morning, the markets received the important Consumer Price Index (CPI) release, which came in slightly higher than expected at +0.3% month-over-month.

August CPI, with the conspicuous exception of shelter, continued to come in tame. And the list of other “problem children” decreased by 1, as only food away from home and transportation services (motor vehicle insurance and repairs) remain.

On the daily chart, the third phase of the recovery completed its first leg, labeled wave (W), in April 2023.

As of Wednesday's opening, the gold price has stabilized at $2,527 per ounce, as markets await the US inflation report later today for clarity on the potential extent of US interest rate cuts by the Federal Reserve.

The presidential debate on Tuesday weighed on the dollar as Kamala Harris came out stronger. Analysts expect cooler US price pressure at 2.6% on an annual basis. The Canadian dollar lost ground in the previous session as oil prices fell.

The US dollar weakened a little ahead of US CPI release, as polls pointed to Harris having done better than Trump in the first presidential debate overnight.

Looking for a resumption of the uptrend after what appears to be a three wave move into wave (4), as we currently stand between TL3 and 400$.

The nation’s attention will be fixed on televisions and laptops this evening as Donald Trump and Kamala Harris participate in what may be the only publicized debate between the two presidential candidates.

Gold moved slightly higher, but the very short-term resistance line based on the previous highs keeps gold’s gains in check.

Tech stocks were -12.2%, on average, last week as a result of the ISM manufacturing index reporting August figures below consensus expectations raising fears about the strength of the economy and the Federal Reserve cutting interest rates.

In this update we review the recent price action in the emini SP500 futures contract and identify a trade plan and price objectives for the trading session ahead.

Currencies are bid against the US Dollar and overall sentiment is looking up as we head into a critical US economic release in the form of the latest CPI read.

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EURCAD has maintained a bullish sequence from the low in August 2022. From that low, the bullish sequence could either complete a 3-wave or a 5-wave structure.

The US dollar is drifting a little bit lower. This is particularly interesting considering just how positive the Monday session was.

As expected, China's exports to the United States surged in July 2024 as that country's exporters acted to beat the clock on the Biden-Harris administration's new and expanded tariffs.

Could the S&P 500;s current technical rebound lead to a sustained rally, or is it just a short-lived bounce?