- US ISM Services PMI rises unexpectedly in August, to its strongest level since February
- US Dollar Index surges to fresh highs above 105.00.
The economic activity in the US service sector continued to expand in August, for the eighth consecutive month, with the ISM Services PMI rising from 52.7 to 54.5. This reading came in above the market expectation of 52.5.
Further details of the publication revealed that the Employment Index edged...

Electric vehicle startup Rivian Automotive reported mixed fourth-quarter earnings and a lackluster production outlook after the bell Tuesday.
Shares of Rivian were down by roughly 8% during extended trading. The stock closed Tuesday at $19.30 a share, up 4.6% for the session.
Here’s how Rivian performed in the period, compared with analysts’ estimates as compiled by Refinitiv:
Adjusted loss per share: $1.73 vs....

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What an amazing week! Fed announced a smaller rate rise on Wednesday as inflation cooled...

In a previous post I explained how traders should watch out for selling or long positions being covered near crucial long-term resistance zones. You can see these resistance levels above highlighted by the 200-day moving average and the downward trending bear market resistance level. The bear market resistance is the same dynamic resistance level of the expanding triangle or wedge pattern. Will the market breakout to the upside into a bull market? O...