Craig Johnson is chief market technician at Piper Sandler. Steve obviously still with us. Craig, you wrote that I think yesterday or the day before.This is not some new comment from you. So obviously today is making you look very smart by the way and and correct. You couldn't anticipate the president's social media post.But how much was this a market or is this still a market that is really, and I hate the term, priced to perfection. Well, Brian, thanks for having me on. And to that point, um, when we look ...

Time now for options corner. Joining us to take a deeper look is Rick Dukcat, lead market technician. So you are looking at GLD the chart for that and it mirrors the action gold futures rather uh and it mirrors the action that we've been you know we've been paying attention to all these moves in the precious metal.What trends do you notice. For sure when we look at uh some of the common futures products gold is the clear leader up almost 50% year to date here. you know, Bitcoin and and the S&P futures are u ...

will of course be talking about Netflix today with our lead market technician Rick Dukat who's here with us in studio and Rick Netflix getting a big boost today but in terms of how they're performing more broadly against the sector and the markets you know I can see sort of how it looks but you know tell us what the technicals are telling us >> yeah handily outperforming the broader sector communications sector that it's in as well as the S&P 500 up about uh almost 70% at this point during the past year whe ...

Core Viewpoint - The British public's inflation expectations for the next five years have risen to 3.8%, the highest since May 2019, which may cause concern among some Bank of England policymakers ahead of next week's interest rate decision [1] Group 1: Inflation Expectations - The rise in public inflation expectations could become a risk factor for future inflation, increasing the likelihood of demands for higher wages and acceptance of higher prices [1] - Public satisfaction with the Bank of England's methods for controlling inflation has decreased from +6 in May to +2 in August, although it remains higher than most of the past three years [1] Group 2: Economic Indicators - The UK's Consumer Price Index (CPI) reached an 18-month high of 3.8% in July, the highest level among the G7 countries, with the Bank of England expecting inflation to reach 4% in September and return to target levels by Q2 2027 [1] Group 3: Currency Analysis - The GBP/USD exchange rate is currently at 1.3508, with a slight decline of 0.03% from the previous close of 1.3512 [1] - Technical indicators show that the MACD value for GBP/USD is negative and close to zero, indicating slight bearish strength, while the RSI is hovering around 50, suggesting a balanced market without clear overbought or oversold conditions [1]

Core Viewpoint - The article discusses the expectation of the Federal Reserve to lower interest rates starting in September due to a weak labor market and reduced inflation risks [1] Group 1: Economic Predictions - Nomura's economists predict a 25 basis point rate cut by the Federal Reserve in September, followed by additional cuts in December and March of the following year [1] - The median analyst expectation is also for a 25 basis point cut within the next three months, although there is disagreement among economists regarding the timing of these cuts [1] Group 2: Market Indicators - The current USD index is at 97.86, with a slight increase of 0.02% from an opening price of 97.80 [1] - The 20-period moving average (97.5513) and the 50-period moving average (97.7919) are converging, indicating short-term bullish sentiment, but the price has not effectively broken through the resistance at the 50-period moving average [1] - The RSI indicator is at 71.91, indicating an overbought condition, and a potential "divergence" pattern is forming, where the price reaches a new high while the RSI does not [1]

Group 1 - The core viewpoint indicates that spot gold prices are experiencing slight declines due to negative pressure from the EMA50 moving average, particularly after breaking below a short-term bullish trendline, which has intensified selling pressure [1] - The RSI indicator on the 4-hour chart has reached a significantly oversold level, suggesting a potential for positive momentum that could pave the way for a short-term rebound in gold prices [1]

Core Viewpoint - The US dollar against the Swiss franc rose by 0.53% on August 11, closing at 0.8120, indicating a temporary advantage for bulls in a market characterized by volatility and indecision [1] Market Analysis - The USD/CHF pair exhibited a volatile trading pattern, initially declining before rebounding, with a significant range of movement observed [1] - The candlestick pattern formed a small bullish candle with upper and lower shadows, suggesting a struggle between bulls and bears, with bulls currently having a slight edge [1] - Recent candlestick formations have shown alternating bullish and bearish patterns since the rebound, indicating a lack of a clear trend and a state of stalemate in the market [1] Technical Indicators - The daily RSI is currently around 58, positioned within the neutral to bullish range of 50-70, suggesting that while bullish momentum is present, it has not yet reached overbought conditions [1] - This indicates that there is still potential for upward movement in the market, as the bullish forces are slightly dominant but not excessively strong [1]

Group 1 - The euro against the US dollar has risen, currently trading around 1.16, with a slight increase of 0.08% from the previous close of 1.1612 [1] - Investors are reluctant to abandon recent gains in risk assets like stocks, while remaining cautious ahead of key data releases this week, including the US Consumer Price Index (CPI) and UK GDP data [1] - The cost of credit default swaps (CDS) for euro-denominated high-yield bonds has slightly decreased, indicating a potential easing in credit risk perception [1] Group 2 - The iTraxx Europe crossover index, which tracks euro junk bond CDS, has decreased by 1 basis point to 266 basis points, reflecting a slight improvement in market sentiment [1] - Key support levels for the euro against the dollar are identified at 1.1607 and further down at 1.1513, while resistance levels are noted at 1.1698 and 1.1701 [1] - The current market outlook suggests a higher probability of a rebound towards the upper Bollinger band, unless there is a significant drop in MACD and RSI indicators [1]

Core Viewpoint - The Australian dollar (AUD) against the US dollar (USD) experienced a slight increase of 0.04% on August 5, closing at 0.6470, indicating a period of low volatility and balanced market forces [1] Market Analysis - The overall trading of AUD/USD was relatively narrow, with no clear directional trend due to light market activity [1] - The Relative Strength Index (RSI) was recorded at 3.09, which is considered extremely low; typically, an RSI below 30 indicates an oversold condition, suggesting potential short-term rebound demand for the AUD [1] - The 50-day Exponential Moving Average (EMA) is at 0.6424, with the AUD/USD price above this level, indicating some long-term support for the currency pair [1] - In contrast, the 5-day moving average is at 0.6500, with the current price below this average, suggesting short-term pressure and a relatively weak short-term trend [1]

Core Viewpoint - The article discusses potential catalysts that may lead the Federal Reserve to consider interest rate cuts in upcoming meetings, highlighting the current economic indicators and market conditions [1]. Group 1: Economic Indicators - The labor market is showing signs of a sharp slowdown, which could influence the Federal Reserve's decision-making process [1]. - Actual inflation rates are reported to be lower than expected, suggesting a potential easing of monetary policy [1]. - There are indications that any inflation caused by tariffs may be temporary, further supporting the case for rate cuts [1]. Group 2: Federal Reserve Outlook - Russell Investments' Chief Investment Strategist Paul Eitelman believes that the Federal Reserve will have sufficient data, time, and policy clarity to reconsider rate cuts at the next meeting in September [1]. - Eitelman anticipates that Federal Reserve Chairman Jerome Powell will open the door to the possibility of rate cuts during his press conference [1]. Group 3: Market Conditions - The RSI indicator is currently around 58.4, indicating that the market has not yet entered an overbought territory, suggesting further upward momentum is possible [1]. - However, the market is at a critical juncture, requiring new catalysts to break through the 100 mark [1].