IG MENA

Nvidia, Apple and AI.

The retreat in WTI's price hasn't favored traders who had positioned for gains given their heavy majority buy bias, but week-on-week positioning has pulled back to 73% for both clients and CoT speculators. Link to report: https://lnkd.in/dG3j7Gnb

A clear majority of clients were already positioned for price gains prior, and while there have been some fresh sell positions initiated following the price plummet, it's still a story of generally holding and waiting for a recovery. Link: https://lnkd.in/dQm6WvAz

The Week Ahead - June 4, 2024:   Rate CUTS likely from two key central banks, and the monthly market-moving US Non-Farm Payrolls.

IG sits with Steven Bartlett What an incredible and unforgettable Sunday afternoon we’ve had. Steven Bartlett joined IG UAE’s SEO Sharaz Hussain on stage for a fireside chat in an intimate gathering of outstanding people. The event was by invitation only and was attended by 140 guests. For those who don’t know Steven Bartlett, he is one of the most influential speakers of our time, an entrepreneur, investor, No. 1 bestselling author, and host of Europe’s biggest podcast “The Diary of a CEO”. He has over 6 million followers across his social channels and his podcast gets up to 50 million downloads a month. He speaks to aspiring entrepreneurs, seasoned business owners, and anyone who dreams of taking their venture, project, or life to the next level. The audience not only had a chance to listen to him speak, but they also asked him questions, took selfies, and got their books signed. Some of his quotes from that afternoon include:   - “You increase the chance of success by increasing the rate of FAILURE. Experiment more, to increase probability of finding the right answer. In fact my own company’s KPI is not the rate of success, but the rate of failure.” - “Great companies are not built on consensus but the SINGULAR VISION”.

Dragon's Den star, entrepreneur, best-selling author, and host of UK's no.1 podcast The Diary of a CEO, Steven Bartlett is sitting with IG for a fireside chat talking about quitting, AI, social media, investing and more. Meet Steven Bartlett in person, you can register here https://lnkd.in/eUdi6-AV.

Technical Cheat Sheet EUR/USD: Sentiment shifts for both retail traders and CoT speculators. We’re back where Technical Cheat Sheet began with EUR/USD, with price not far off February’s levels, and the overviews unchanged in both weekly and daily time frames. Key technical indicators have failed to offer clearer signals as of late with short-term positive technical bias not far off the upper end of the bear channel. It gets interesting in sentiment, given both retail traders and CoT speculators have shifted recently.  

Tesla's share price jumps; earnings from Amazon and AMD next.

We take a look at the Dow 30 in our latest Technical Cheat Sheet video, where it’s no longer a bullish overview on the daily time frame even if the weekly has managed to hold on. There’s also the mater of what traders have been up to with CoT speculators falling out of heavy buy territory but still majority long, while IG clients also moving closer to the middle but an opposite majority short. And while technicals are in focus, let’s not forget the fundamental items on offer this week and on multiple fronts with more earnings from Big Tech, the FOMC policy decision, and market-moving data.   Chapters 00:09 Technical cheat sheet description 00:53 Weekly indicators and chart 01:25 Weekly overview, strategies, and levels 03:25 Daily indicators and chart 03:46 Daily overview, strategies, and levels 06:37 Fundamental note 10:09 Sentiment amongst IG clients and CoT speculators

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