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Market Events Today: Gold, Bitcoin, and Indices

Gold extends climb to highest level since February


P = $1,829.60 +12.6
A = $1,842.20 + 1.68%


Gold prices climbed, supported by a fall in the U.S. dollar to a roughly 2 1/2-month low, as well as some weakness in the stock market.
Inflationary concerns will dominate the focus this week

Gold has tentative resistance from the USD1857 level, with further upside likely eyeing a move towards the USD1,950 level.

Indices

DOWJONES
P= 13,752.24
A= 13,401.86 -350.38 -2.55%


NASDAQ
P= 34,777.76
A= 34,742.82 -34.94 -0.10


S&P500
P= 4,232.60
A= 4,188.43 -44.17 -1.04

Dow Snaps 5-Day Win Streak as Tech Wreck Dents Bullish Stampede
“Massive growth (and further multiple expansion) is still on the horizon with tech stocks underestimating this surge of demand for the next 2-3 years.” – Wedbush

As the quarterly earnings season draws to a close, investors continued to digest quarterly earnings from corporates.

The retreat in stocks from session highs should be viewed as buying opportunity as the bull market still has room to go, Wells Fargo said. “We view any market disruptions during this seasonally weak period as a potential buying opportunity, as we believe we’re still in the early innings of the new bull cycle.”

Cryptocurrency

Bitcoin bull run won’t end ‘any time soon’ as whale buying hints at new $52K floor -A trading frenzy is gripping altcoins, while Bitcoin (BTC) continues to consolidate, showing signs that it is ready to tackle $60,000 resistance.


Stablecoin inflows have been on an uptrend for months, and apart from brief “reset” periods where they leave exchanges, the overall direction is clear.


This suggests that traders are ready and waiting to enter positions in various cryptocurrencies at short notice.
A: $55, 927.4 P: $ 58, 067.5


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