Market Overview
Global markets pulled back today as NVIDIA weighed on major indices, sparking the big question traders are asking:
Is this a buy-the-dip opportunity or a bull trap?
In this market breakdown, we analyze key technical setups across:
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S&P 500
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NASDAQ
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Gold (XAUUSD)
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EURUSD
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Dollar Index (DXY)
This analysis is for educational purposes only and reflects current market structure, technical patterns, and momentum conditions.
Watch the Full Market Breakdown
Watch the full video here:
https://youtu.be/21_oL2oM7Y8
NVIDIA Pulls Indices Lower
NVIDIA shares dropped sharply, creating downside pressure on broader indices such as the S&P 500 and NASDAQ.
Despite the pullback, the higher timeframe trend remains bullish, with higher highs on the daily chart and bullish confluence in momentum indicators. This makes the current dip an area of interest for traders watching potential continuation setups.
Gold (XAUUSD) Technical Outlook
Gold has been unusually quiet despite ongoing geopolitical and political uncertainty. Technically, price action is forming:
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A bullish symmetrical pennant on the short-term timeframe
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A bearish rising wedge on the higher timeframe
This conflicting structure suggests a high-probability volatility expansion could be coming. Gold remains sensitive to USD strength and global risk sentiment.
Dollar Index & EURUSD Outlook
The Dollar Index (DXY) has been strengthening throughout the month, applying pressure on major forex pairs like EURUSD.
From a technical perspective:
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DXY is forming an ascending triangle near resistance
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EURUSD shows signs of either a descending triangle or falling wedge
A breakout in either direction could define the next short-term trend in forex markets.
NASDAQ Volatility & Tech Stocks
Tech stocks remain volatile due to uncertainty around AI-related valuations and growth expectations. The NASDAQ is currently mid-range, reflecting indecision and reduced conviction from both bulls and bears.
Risk Disclaimer
This content is for educational purposes only and does not constitute financial advice.
CFDs and FX are leveraged products and your capital may be at risk.
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