The price of Dogecoin stopped yesterday’s bullish rally at the 0.09950 level. This morning, the Shiba Inu price climbed to a new two-day high at the 0.00001370 level.

The one-two punch of the disappointing US job opening report and the downbeat Beige Book weighs on the US dollar, which is softer against all the G10 currencies.

In this update we review the recent price action in the emini Sp500 futures contract and identify a potential trade plan and price objectives for the trading session ahead

The economy is cooling must faster than most recognize. The Fed’s Beige Book provides more evidence.

Cocoa Commodity Elliott Wave Technical Analysis

Cyber security spending was only $188B in 2023 and, it is forecast that such spending should grow at a CAGR of 13.8% between now and 2030. That suggests that many cybersecurity software companies should be excellent long-term buys

The EUR/USD pair remained stable around 1.1077 on Thursday morning, following steady growth in the previous session but still confined within a sideways channel.

At Wednesday’s close, the Dow Jones (US30) Index was up 0.09%, while the S&P 500 (US500) Index fell 0.16% and hit a 2-week low.

WTI attracts some buyers on Thursday, albeit it lacks follow-through. Demand concerns overshadow hopes for OPEC+ output hike delay. The technical setup still seems tilted firmly in favor of bearish traders.

AUD/USD stays in a tight range above 0.6700 despite multiple tailwinds. A hawkish guidance from RBA Bullock on interest rates fails to uplift the Australian Dollar (AUD). Weak US JOLTS Job Openings data weighs heavily on the US Dollar.

TCS has been rallying within Intermediate Wave (5) Orange since September 2022 lows registered around 2920 mark. The above can be clearly subdivided into five waves potentially terminating close to 4600 on September 02, 2024. 

It is worth noting that there’s nothing special about Bitcoin in the market right now, it is not really in focus. The Japanese Yen is the asset that is attracting a lot of action.

The modest 0.1% rise in retail trade for July suggests a significant boost in third-quarter economic activity is unlikely. Given subdued domestic demand, inflation expectations for goods remain low.

The British pound sterling is nearly $1.31 in early September after rising 2.1% in August as expectations of a divergence in US and UK monetary policy continue to support the currency.

The natural gas market initially shot higher during the early hours on Wednesday to test the 200-day EMA but has since been squashed as that technical indicator certainly has brought a lot of sellers back into the market.

In conclusion, the DAX is presently in a corrective phase, with orange wave 2 of navy blue wave 5 in progress. Orange wave 1 has been completed, and following the correction, the market is expected to move into orange wave 3.

The above 8 Cloud Computing stocks went UP 4.1%, on average, in August and have an average market capitalization of $54B.

Following mixed signals from Wall Street overnight, Asian stock markets are generally flat on the session with the exception of the Nikkei 225, extending the losses in the previous two sessions.

I am sticking with my call of a 50 basis point cut by the Fed this month. The Jobs report on Friday and the CPI report next week will determine the fate.

In summary, the GBPUSD pair remains in an impulsive trend, with gray wave 1 of 3 now unfolding.