NMS Investment Research

  Bitcoin was rejected at its 600- and 200-day EMAs, respectively, right after a big run-up following news that crypto asset management Grayscale won their court battle against the SEC two days ago. BTC should bounce off from the 26k level or else it will be heading down to retest 25.4k. Beware that a double top is confirmed if it breaks below 25.4k. This note contained herein is not and should not be construed as a recommendation to buy or sell. Click here to view the latest update!

  The S&P 500 bounced off the 4,337 support level but continues to be stuck under its 50-day EMA . J. Powell 's hawkish tone at his opening speech at the Fed's Jackson Hole summit on Friday was not a surprise . The fact that inflation continues to remain high , per J. Powell, making the bear's argument that the U.S. econom y would grind to a halt anytime soon, is invalid. This note contained herein is not and should not be construed as a recommendation to buy or sell. Click here to view the latest update!

Tesla bulls pushed the stock higher towards its 50-day EMA on Wednesday despite a Reuters report that Tesla Gigafactory Berlin lowered its production target in July and August. Be cautious, though. The European economy is being crushed by many factors including the Ukraine war and the high price of energy. CNBC just confirmed that, "Economic data in Europe just went from bad to worse". This note contained herein is not and should not be construed as a recommendation to buy or sell. Click here to view the latest update!

  Apple stock gapped up 0.73% at the opening on Wednesday, just above the key resistance level at $178.16. From a technical viewpoint, the stock bounced off the trendline support at $171.96 and a successful April breakout-retest is confirmed. In our view, b uyers should step in after the stock breaks above its 50-day EMA , sending the stock back up to retest the $3 trillion mark at $192.12 . Be aware that the Apple September Event in Cupertino, CA is less than three week s away, either on September 12 or 13! This note contained herein is not and should not be construed as a recommendation to buy or sell. Click here to view the latest update!

  The SET index continues to be stuck under its 50-day EMA as political uncertainties drag on . The good news is that the relative strength (RS) between MSCI Thailand and MSCI EEM (Emerging Markets) managed to break above its 50-day EMA. The bad news is that a head and shoulders chart pattern has emerged with the neckline at ~ 1,512 and P/T at ~ 1,482. This note contained herein is not and should not be construed as a recommendation to buy or sell. Click here to view the latest update!

  The S&P 500 wa s down for the third straight week while the index retests the 4 , 337 support level. One may expect more volatility ahead as the VIX is breaking above its 50-day MA. Some retail short s may follow Michael Burry's move and jump on the bandwagon. Reuters reported on Monday that Michael B u rry bought put options, worth $1.625 billion, against QQQ and SPDR during the quarter. J. Powell will give his opening speech at the Fed's Jackson Hole summit next Friday. It is anyone's guess what he'll say. The S&P 500 should bounce if the 4,337 support holds, or from its 100-day EMA at ~ 4,324. The last time the S&P 500 was down for four straight weeks was in December 2022. This note contained herein is not and should not be construed as a recommendation to buy or sell. Click here to view the latest update!

  Bitcoin has been trading under the 30k/30.9k resistance level since April and is going nowhere as these resistance levels seem to be too tough to break. Let me repeat my last post on June 21 that the rally could continue if Bitcoin can break the key 30k/30.9k resistance level. It's starting to look like BTC could pull back to retest the 27.6k support, though. This note contained herein is not and should not be construed as a recommendation to buy or sell. Click here to view the latest update!