$ADBE weekly bounce from $190 stalled at the descending MA ribbon and the 0.236 Fib near $295, then rolled over into the $255–$248 zone with earnings after the close
Weekly close back through $255 would reopen $270–$308
Failure here shifts the map toward $190.12 still the major support underneath
Gold Futures trading below the $4,452 POC, still on the MA ribbon / EMA233 / 0.236 Fib confluence
$4,351–$4,184 is the shelf underneath
Hold $4,349–$4,351: first reclaim is the $4,452 POC, then $4,595 (0.382 Fib)
Lose $4,349: August advance unwinds through $4,275–$4,184, then $4,000
DXY 99.14 (+0.09%) · US10Y 4.94%
CPI 8:30 ET
Traders now believe if the Fed hikes rates next week, long-term bond yields will fall, as the hike will improve the Fed's inflation-fighting credibility. But the expected hike will be far too little to win the inflation fight, so long-term yields will rise regardless of a hike.
Markets are now pricing the odds of a rate hike next week at 88%. This should all but ensure a hike. If so, the odds of a second hike in Dec have risen to 74.2%. This knee-jerk rally in markets likely won't last, especially since the rate hikes won't be enough to lower inflation.
$NVDA CEO Jensen Huang says “2GW of AI infrastructure in Australia represents $80B.”
That’s why I’m watching countries building their own AI capacity because national buildouts could bring another massive wave of spending alongside the hyperscalers.
$GOOGL - $338
The $329 shelf held and the bounce is now pressing the $343.24 POC
A weekly close through $343 opens $351.53 (0.786 Fib), then the $380 volume-area high
Lose $329 and the map shifts to $317–$306 (0.618 Fib)
$DELL — $558.08
Through $469.55 (Fib 1) and pressing the $567.85 volume-area high. Next extension is $604.81 (1.382)
Acceptance above $567 keeps the extension intact
Rejection sends the first test back to $469.55; lose that and the $418.51 node comes back into view