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“Bear market embrace” on the S&P 500 and Nasdaq 100 charts

“Bear market embrace” on the S&P 500 and Nasdaq 100 charts

created OANDA TMS Brokers24 May 2024

During Thursday's session S&P 500 i Nasdaq xnumx reached their highest levels ever, but ended the day with declines of -0,74%, respectively. and 0,44 percent The Japanese "candles" created yesterday on the charts of both these American indices are classic "bear market embraces". The only rising exception among the major stock market indices in the Americas was the Chilean IPSA, which reached its highest level ever (+0,66%).

Slight declines in bond yields

Today morning a downward trend prevailed on the stock markets of Asia and Oceania (Japanese Nikkei 225 -1,17 percent, Australian All Ordinaries -1,04 percent). During Friday's session, the Indian Sensex (-0,01%) was the highest in history.

The yield on 10-year US treasury bonds tried unsuccessfully to return above 4,5% yesterday, and today around 9:14 dropped slightly to 4,47%.

They dominated European bond markets today slight declines in the yields of government 10-year bonds (German -0,25% to 2,5875%, French -0,16% to 3,074%).

The yield on 10-year Polish government bonds, which in April reached its highest level since October last year. (5,867%), was 5,726% this morning.

Bitcoin price keeps falling

This morning around 9:21 change in EUR/USD rates i USD / JPY were cosmetic (+0,02% and +0,03% respectively). There's also not much happening today around 9:23 cannon on the Polish currency market (EUR/PLN -0,05 percent, USD/PLN -0,08 percent).

The Bitcoin price against the US dollar fell on Wednesday to its lowest level since February this year. ($57 at closing), and today at approximately 822,16:9 dropped by 24 percent.

On the commodity markets it was slightly cheaper today at approx. 9:25 Petroleum (WTI -0,21%, Brent -0,16%), while the price of crude oil contracts listed on NYMEX, which on Thursday reached its highest since January this year. level, tried to resume the increase (+1,69 percent around 9:28).

There was no dominant trend in the precious metals market this morning. Approx. time. 9:29 copper metals became slightly more expensive (gold +0,14%, silver +0,67%), while platinum metals became cheaper (platinum -0,22%, palladium -0,4 percent).

Source: Wojciech Białek, OANDA TMS Brokers

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