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SPX & NKY Standstill as Treasure Yield Rises to 3% – Earning Reports Eyed

Who’s up for trading the S&P 500 and Nikkei today? The volatility in the stock markets is likely to get us some nice trades today. Stock indices are getting extremely volatile for two reasons. Let’s find out…

Earning Season & Economic Events

It’s a busy week with earnings reports ahead. In particular, I will be looking for the release of Alphabet, Facebook, Twitter, and other tech giants. In addition, we have a BOJ (Bank of Japan) monetary policy decision and the U.S. GDP results on Friday which will be impacting both of the S&P 500 and the Nikkei.

U.S. 10-year Bond Yield – 3%

Secondly, the rise in the bond yield is gaining investors’ attention. Fellows, in the investment world we have four options to invest in which include stocks, forex, commodities, and the bond market. If the bond market is giving high returns, would you like to invest in risky assets? I wouldn’t prefer that since I can make risk-free money on bonds. Thus, investors seem to shift their investments to the bond market from stocks, which is ultimately driving bearish trends in the market. If you are looking to invest in stocks, make sure to follow the earning reports by NASDAQ.

Let’s take a quick look at the support & resistance levels for the S&P 500 and Nikkei.  

S&P 500 – Technical Levels

Support     Resistance

2662.17    2687.63

2654.3    2695.5

2641.57    2708.23

Key Trading Level:    2674.9

Nikkei – Technical Levels

Support     Resistance

22066.24    22172.7

22033.36    22205.58

21980.13    22258.81

Key Trading Level:    22119.47

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Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
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