Following a breakdown lower last week which saw BTC futures crashing through support at 60695, the market swiftly reversed higher as demand kicked in at the lows of the move.

Monday’s trading session was bullish, with the S&P 500 index gaining 1.03% and closing the highest since April 11. Last Friday, the index gained 1.3% following a 0.9% advance on Thursday.

The blue wave 4 triangle has been completed with confirmation above wave (B) high. Wave ‘5’ appears to have begun. Invalidation is now at wave (E) low. Price may retest toward the 30 major level before blue wave ’5’ continues.

At Monday's close, the Dow Jones (US30) Index added 0.46%, while the S&P 500 (US500) Index was up 1.46%. The NASDAQ Technology Index (US100) closed positive 1.19% yesterday.

Brent crude oil is seeing a slight increase on Tuesday, priced around $83.57 per barrel.

The Australian Dollar has come under pressure across early European trading on Tuesday as traders digest the latest monetary policy meeting from the RBA overnight.

USD/JPY extends gains for the second successive session, trading around 154.00 during the European hours.

The euro posted modest gains on Monday, just below the 3-week high reached last Friday. Some positive economic news supported the euro after the May Eurozone Sentix Investor Confidence Index rose more than expected to a 2-year high.

COST favors bullish weekly sequence & expect to remain supported in 3, 7 or 11 swings pullback to extend higher. Short term, it favors upside in ((3)) of III of (I).

The S&P 500 rallied early during the trading session on Monday, as it looked like money was flowing back into Wall Street and stocks overall.

The Walt Disney Company today reported some very disenchanting numbers in its second quarter 2024 financial results on May 7th, compared with the previous quarter and also the previous year.

The price of Solana has been in a stable bullish consolidation since the beginning of May. Last week’s low price Cardano was formed on Wednesday at the 0.418 level.

The upside momentum in the US stock market so far this year continues to be led by rallies in communications services and energy shares, based on a set of ETFs through Monday’s close (May 6).

PDD Holdings also known as Pinduoduo, is a Chinese e-commerce platform that specializes in group buying deals.

AUD/USD is correcting back within a short-term uptrend. It will probably eventually find support and resume its bullish bias. The pair may have formed a Measured Move with a target for ending wave at 0.6680.

Buffett: “I would leave the capital allocation to Greg … he understands businesses extremely well,” Buffett said. “If you understand businesses, you’ll understand common stocks.”

I’m not a contrarian by nature, but I do enjoy being a devil’s advocate and while reading a recent piece by JP Morgan on the importance of a reinvigorated private equity exit environment, I couldn’t help but come up with an opposing perspective.

US and euro rates opened the week lower, continuing the dovish sentiment from the week before. Markets are pricing in 75bp of ECB rate cuts for 2024, but two cuts are also still on the table, and thus market pricing should be lower.

Chevron Corporation is a multinational energy corporation operating in all facets of the oil and gas industry. This includes exploration, production, refining, and marketing.

March 2024 was a good month for new home builders in the U.S. The month saw a rebound in the number of new home sales and also a rebound in the average new home sale prices over February 2024's depressed levels.