NASDAQ 1M
Debt Ceiling Negotiations
Just two weeks left before the U.S. government could run short of money to pay its bills.
President Biden is very optimistic about reaching a Congressional agreement. “I really think there’s a desire on their part, as well as ours, to reach an agreement, and I think we’ll be able to do it,” Biden told reporters Sunday.
Last week, Treasury Secretary Janet Yellen warned that the government could fail to meet its obligations unless a Congressional agreement is reached by Jun 1. However, in an interview with the Wall Street Journal, she said “I’m hopeful. I think the negotiations are very active. I’m told they have found some areas of agreement.”
Economic Data
The Department of Commerce reported that retail sales rose 0.4% in April, lower than the consensus estimate of 1.2%. The metric for March was revised upward from a decline of 1% to a drop of 0.7%. Core retail sales (excluding auto) increased 0.4% in April, lagging the consensus estimate of 0.6%.
Industrial production rose 0.5% in April, beating the consensus estimate of 0.1%. The metric for March was revised downward from a gain of 4% to break even. Capacity utilization in April was 79.7%, in line with the consensus estimate. The metric for March was revised downward to 79.4% from 79.8% reported earlier.
Technically:
The monthly chart appears to continue its trend of up
in the previous weekly chart, we showed you the price will start their uptrend from their lower at 10700
so now it tries to do a retest till 12970 and then starts to up again
and closing weekly candle above 13895 will support the rising to continue the uptrend till reaching 14920 and 15650
previous idea:
Just two weeks left before the U.S. government could run short of money to pay its bills.
President Biden is very optimistic about reaching a Congressional agreement. “I really think there’s a desire on their part, as well as ours, to reach an agreement, and I think we’ll be able to do it,” Biden told reporters Sunday.
Last week, Treasury Secretary Janet Yellen warned that the government could fail to meet its obligations unless a Congressional agreement is reached by Jun 1. However, in an interview with the Wall Street Journal, she said “I’m hopeful. I think the negotiations are very active. I’m told they have found some areas of agreement.”
Economic Data
The Department of Commerce reported that retail sales rose 0.4% in April, lower than the consensus estimate of 1.2%. The metric for March was revised upward from a decline of 1% to a drop of 0.7%. Core retail sales (excluding auto) increased 0.4% in April, lagging the consensus estimate of 0.6%.
Industrial production rose 0.5% in April, beating the consensus estimate of 0.1%. The metric for March was revised downward from a gain of 4% to break even. Capacity utilization in April was 79.7%, in line with the consensus estimate. The metric for March was revised downward to 79.4% from 79.8% reported earlier.
Technically:
The monthly chart appears to continue its trend of up
in the previous weekly chart, we showed you the price will start their uptrend from their lower at 10700
so now it tries to do a retest till 12970 and then starts to up again
and closing weekly candle above 13895 will support the rising to continue the uptrend till reaching 14920 and 15650
previous idea:
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t.me/Srosh_signals
~6 analyses per day. With a clear entry point
more than 1000 pip per week —— Accuracy +88%
SM World and Economy News 24/7
Urgent News ⚡️:
t.me/SM_News_24h
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