- A master trader shares his thoughts on what traders should look out for this week.
- He goes on to highlight the top 5 market watch points traders should keep an eye out for.
- Bitcoin price continues to waver and the following events may influence its next movement.
Top-class trader, Gareth Soloway, shares his thoughts on the biggest market points this week. Specifically, the master trader says there are top 5 market watch points to keep an eye for this week.
According to the post, Soloway highlights key events that could significantly impact trading decisions and market trends. The first of which is the NVIDIA (NVDA) earnings announcement that should come out Wednesday, after market close.
In detail, the tech giant NVIDIA’s earnings report is set to create waves in the market. Analysts and investors are keenly observing the company’s performance as it symbolizes the tech industry’s growth trajectory.
With estimates indicating $2.07 earnings per share on $11.09 billion revenue, whispers suggest an even more optimistic $2.13 EPS. Given its high valuation and its role as a market bellwether, NVDA’s results might sway the broader market sentiment.
Secondly, the post mentions Jerome Powell’s Jackson Hole speech on Friday, 10:05 am ET. To specify, the Federal Reserve’s Chairman, Jerome Powell, is set to deliver a crucial speech from Jackson Hole.
With recent hawkish hints and a tumultuous global economic landscape, Powell’s words could illuminate the Fed’s future path, especially concerning potential interest rate hikes. Thirdly, the post talks about the 10-year Treasury yields.
This is the fact that market participants are keeping an eye on the 10-year Treasury yields as they flirt with a critical 4.33% level. A historical double top from October 2022, when markets were 20% lower, adds weight to this situation.
Meanwhile, rising inflation expectations and the possibility of a prolonged higher interest rate environment could trigger shifts from stocks to bonds, impacting market dynamics and investor sentiment.
Lastly, the post draws light to Japan’s monetary policy and China’s economic stimulus. A shift in Japan’s near-zero interest rate strategy and reduced appetite for US Treasuries could disrupt the bond market, influencing US yields, and affecting broader market trends.
Similarly, China’s economic challenges are capturing attention, driven by its second-largest economy status. As deflation threatens, China’s economic response through monetary policy and stimulus packages is crucial. Any potential moves by China to reignite its economy will undoubtedly ripple through global markets, particularly given its sheer economic impact.
As a bonus, the post talks about Bitcoin and Binance Rumors. Soloway says crypto enthusiasts should keep an eye on Bitcoin’s price movement, specifically its support level around $25,000. Amid ongoing rumors of potential developments at Binance, a leading crypto exchange, Bitcoin’s response to technical levels will be closely scrutinized.
