Stock Market Update Monday August 5, 2024

Stock Market Update Monday August 5, 2024 Global financial markets are undergoing a significant correction, driven by a confluence of factors including the unwinding of the Yen carry trade, escalating geopolitical tensions in the Middle East, and mounting concerns regarding a potential U.S. economic recession. The Japanese Nikkei index experienced a sharp decline of 12.4%, marking its worst single-day performance since the infamous Black Monday crash of 1987. This bearish sentiment reverberated across U.S. equity futures and the cryptocurrency market, with major indices like the SPY and QQQ opening over 4% lower.

Away From Stocks: The US 10-year treasury yield traded as low as 3.6% and closed relatively unchanged, a surprising occurrence given the significant market volatility. Simultaneously, the US dollar, or greenback, weakened against other currencies. Notably, the Japanese yen exhibited exceptional strength, appreciating by 2%, and at one point reaching an intraday gain exceeding 3%.

We do not attempt to predict markets instead we are preparing for our next proprietary algorithm buy alert. On July 25th, we advised premium members in our Discord channel to exercise caution due to a proprietary sell alert generated by our algorithm.

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