RETEST OF ALL TIME HIGH | TECHNICAL ANALYSIS OF THE MARKET |31July-04 Aug 23#shorts #stockmarket
1Greetings, fellow traders!
it's evident that the bullish momentum remains steadfast. Despite a relatively quiet week, with the exception of the upcoming unemployment report on August 4th, we have some exciting opportunities on the earnings front. Major reports from AMD, Apple, and Amazon are set to be released, and it's worth noting that any potential shift in market momentum might occur following Apple's earnings on Thursday, August 4th.
The ongoing bullish momentum suggests that we won't have to wait long to witness a retest of the all-time high on both NQ and ES. For NQ, we should keep a close eye on two levels: the initial one at 16,059, followed by a potential retest of the all-time high at 16,459. As for ES, The levels to monitor for ES are 4,695 and 4,744.
Additionally, the dollar is facing resistance at 101 and seems poised to embark on another leg downward toward the 100 level.
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