Stocks Are Ready To Climb Once Again Today

Volatile Trading Session Lays Ahead On June 1 As Big

Stocks are pointing higher once again with the trading up about 60 basis points. The momentum trade continues, with rising as well. Interestingly copper is now approaching the upper end of its trading channel.

CFDs On Copper

But to this point, the Qs are not ready to get to the upper end of their channel. I’m just not sure what that may mean at this point. Will the correlation break if copper starts to reverse, or will falling copper take the Qs with it? We will need to watch it.

QQQ Chart


Meanwhile, the continues to melt, reaching its lowest level since the middle of March.

USD Index Chart


Boeing (NYSE:) is testing resistance at $158. It is its second attempt to break above $158, and if it can, it likely pushes higher towards $183.

Boeing Chart


Alphabet (NASDAQ:) is consolidating around $1430, and the RSI still has a little bit further to rise. A break out sends the stock back to $1498.

Alphabet Inc Daily Chart


Amazon’s (NASDAQ:) stock bounced back some yesterday, and if you are a bull you need this one to keep powering higher. However, the RSI still diverges lower. So take it to me what you want.

Amazon Daily Chart

Original Post

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source link

Michael Kramer

Leave a Reply

Your email address will not be published. Required fields are marked *

About us

InvestLab is a financial services technology company focused on the global trading market. Founded in 2010 in Hong Kong, the company develops trading, market data, and social research products that enable individual investors and small to mid-size brokers to access global markets. We provide brokers and financial institutions cross border capabilities for retail investors into 43 markets globally.