WEEK OF JANUARY 13, 2025
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Important Prices
What’s Moving The Markets?
Banks Kick Off Earnings Season
JPMorgan, Wells Fargo, Citigroup and other major banks report Q4 earnings, providing the first glimpse of 2025 financial sector outlook amid a changing rate environment.
Fed Minutes Show Trump Policy Concerns
Federal Reserve officials signal cautious approach to rate cuts, citing inflation worries and uncertainty around President-elect Trump’s proposed immigration and trade policies, according to December meeting minutes.
China Inflation Data Fuels Deflation Concerns
Chinese consumer prices edge up just 0.1% in December while producer prices fall for the 27th straight month, dropping 2.3% year-over-year, intensifying concerns about persistent deflationary pressures in the world’s second-largest economy.
Microsoft Overtakes Apple as World's Most Valuable Company
Microsoft surpasses Apple in market value following Redburn’s Apple downgrade and positive reception to Microsoft’s AI event, highlighting the growing divide between AI leadership and traditional tech dominance.
Tesla Unveils Model Y Refresh Amid Sales Decline
Tesla announces first major Model Y redesign for Asian markets following its first-ever annual delivery decline, while Musk reveals plans to integrate Grok AI assistant into Tesla vehicles, marking a significant push into automotive AI integration.
Apple Faces $1.83B UK App Store Lawsuit
UK court begins hearing class action lawsuit challenging Apple’s 30% App Store commission as illegal monopoly, representing nearly 20 million UK users seeking damages in the landmark case filed in 2021.
S&P Outlook
Bear Case: Bears are closely monitoring the supply zone at 6117, prepared to defend it vigorously if the price approaches. This zone is significant due to the potential of trapped longs seeking exits, which could aid bears in driving the price downward. Successfully controlling this level could enhance bears’ influence in the market and affirm their dominance.
Bull Case: Bulls are currently positioned between significant levels, maintaining control above the 5842 demand zone. To seize further upward momentum, they need to break through and consistently hold above 6117. Should the market retrace, the ability to defend the 5842 level will be crucial for maintaining bullish control and setting the stage for potential recoveries.
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WEEK OF JANUARY 6, 2025
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Important Prices
What’s Moving The Markets?
Trump's 2025 Return
U.S. investors face a pivotal 2025 as President-elect Donald Trump’s return to the White House ushers in policy shifts—tariffs, deregulation, and tax changes—that may drive market volatility and prompt portfolio realignments.
Biden Blocks Nippon Steel's U.S. Steel Bid
U.S. President Joe Biden officially rejected Nippon Steel’s $14.9 billion bid for U.S. Steel, citing national security concerns, effectively ending the yearlong deal opposed across party lines ahead of the 2024 presidential election.
Skydance-Paramount Merger Faces Challenges
Skydance Media and Paramount Global defended their $8.4 billion merger against FCC opposition led by the Center for American Rights, which cited concerns over foreign influence due to China’s Tencent Holdings’ investment in Skydance.
Nvidia's $2T Market Cap Gain in 2024
Nvidia became the top global market cap gainer in 2024, soaring from $1.2 trillion to $3.28 trillion, fueled by booming AI demand and its industry-leading AI chips.
Apple Discounts iPhones in China
Apple is offering rare discounts of up to 500 yuan ($68.50) on select iPhone 16 models in China from Jan. 4-7, aiming to bolster market share amid growing competition from Huawei.
E-Trade Eyes Crypto Trading
Morgan Stanley’s E-Trade is reportedly considering offering cryptocurrency trading services, driven by expectations of favorable regulation under President-elect Donald Trump’s administration, signaling institutional interest in the growing digital asset sector.
S&P Outlook
Bear Case: Bears are closely monitoring the supply zone at 6117, prepared to defend it vigorously if the price approaches. This zone is significant due to the potential of trapped longs seeking exits, which could aid bears in driving the price downward. Successfully controlling this level could enhance bears’ influence in the market and affirm their dominance.
Bull Case: Bulls are currently positioned between significant levels, maintaining control above the 5842 demand zone. To seize further upward momentum, they need to break through and consistently hold above 6117. Should the market retrace, the ability to defend the 5842 level will be crucial for maintaining bullish control and setting the stage for potential recoveries.
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WEEK OF DECEMBER 23, 2024
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Important Prices
What’s Moving The Markets?
Apple Explores AI Partnerships in China
Apple (AAPL) is in early talks with Tencent (TCEHY), ByteDance, and Baidu (BIDU) to integrate local AI models into iPhones sold in China, addressing regulatory hurdles and competition from domestic brands like Huawei amid declining market share.
The Fed’s Hawkish Rate Cuts
The Federal Reserve cut interest rates by 0.25% but signaled caution on further reductions, citing persistent inflation challenges and uncertainties around Trump-era policies like tariffs and tax cuts, which could elevate inflation and hinder aggressive rate easing.
Europe Faces Tougher Emissions Rules
European automakers are raising petrol car prices and discounting EVs to meet stricter EU emissions targets requiring at least 20% EV sales, but weak market growth, high production costs, and declining subsidies threaten profits, forcing strategies like “pooling” emissions and price adjustments to avoid massive fines.
Rising Competition For Weight-Loss Drugs
As Novo Nordisk’s (NOVO) and Eli Lilly’s (LLY) blockbuster diabetes and weight-loss drugs face cheaper generic competition in markets with lax patent protections, global price pressures and market share challenges loom, despite soaring demand and expanding production efforts.
Union Strikes Challenge Amazon
Thousands of Teamsters-represented Amazon (AMZN) workers across the U.S. are striking for better wages and conditions during the peak holiday season, highlighting ongoing tensions over unionization efforts and Amazon’s resistance to collective bargaining.
Bitcoin’s Strategic Reserve Hopes
Bitcoin (BTC) hit a record $107,148 after President-elect Donald Trump reiterated plans for a U.S. bitcoin reserve, fueling optimism among crypto bulls. MicroStrategy’s (MSTR) inclusion in the Nasdaq 100 further boosted sentiment, driving the cryptocurrency market to a record $3.8 trillion in value.
S&P Outlook
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WEEK OF DECEMBER 16, 2024
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Google's Quantum Breakthrough
Google (GOOGL) has made a breakthrough in quantum computing with its new Willow chip, solving a complex problem in five minutes that would take a classical computer a billion years, marking a significant step toward practical quantum machines.
Meta Unveils New AI Model Meta
Meta (META) announced the release of its AI model, Meta Motivo, designed to enhance Metaverse experiences with human-like avatars, while also investing heavily in AI and augmented reality, introducing tools like the Large Concept Model and Video Seal.
US Inflation Rises to 2.7%
US inflation rose to 2.7% in November 2024, marking the second consecutive monthly increase and complicating the Federal Reserve’s decision on an expected rate cut, as economists predict a return to the 2% target by 2025.
Microsoft Backs $9B Renewable Energy Push
Acadia Infrastructure Capital, Microsoft (MSFT), and others have launched the Climate and Communities Investment Coalition to accelerate $9 billion in renewable energy projects, aiming to deliver 5 GW of clean power with social and community benefits.
China Launches Probe Into Nvidia
China has launched an anti-monopoly probe into Nvidia (NVDA), citing alleged violations tied to its Mellanox acquisition and broader trade tensions with the U.S., amid escalating restrictions on chip exports and technological competition.
Microsoft Rejects Bitcoin Investment Proposal
Microsoft (MSFT) shareholders have rejected a Bitcoin investment proposal championed by MicroStrategy (MSTR) CEO Michael Saylor, signaling the tech giant’s decision to forgo adding cryptocurrency to its $78.4 billion treasury and sparking curiosity about competitors’ next moves.
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WEEK OF DECEMBER 9, 2024
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Palantir Technologies (PLTR) and Anduril Industries have partnered to enhance AI applications in defense, combining Palantir’s AI platform and Anduril’s systems to address challenges in managing sensitive data and scaling national security AI solutions.
Taiwan Semiconductor Manufacturing Co (TSMC) is in talks with Nvidia (NVDA) to produce its Blackwell AI chips at TSMC’s upcoming Arizona facility, with production set to begin in 2024, though packaging will still be handled in Taiwan.
Hedge funds are beginning to hire medical professionals and scientists to enhance investment strategies in the volatile pharmaceutical sector, capitalizing on their expertise to navigate complex drug trials and market fluctuations.
Former Speaker Nancy Pelosi’s net worth has reached $271 million, with $111 million stemming from stock investments in major corporations, sparking renewed debates over insider trading and ethical concerns regarding stock trading by lawmakers.
China’s leading industry associations have warned against U.S. chip imports amid escalating tensions, urging domestic companies to avoid American semiconductors, while the U.S. faces retaliation through rare mineral export bans and tightened trade restrictions.
Bitcoin (BTC) surpassed $100,000 for the first time, driven by political support, including Trump’s pro-crypto SEC nominee, institutional interest, and growing adoption, marking a key moment in its rise to mainstream financial acceptance.
S&P Outlook
Bear Case: Bears are focused on the critical task of breaking below the 5950 level to initiate potential bearish momentum. Successfully crossing this threshold is essential for bears aiming to establish a stronger bearish presence in the market and drive the price further down.
Bull Case: Bulls continue to demonstrate control with the creation of a possible demand zone starting at 5967, which may provide robust support in case of a price retracement. Maintaining the price above this level is crucial for bulls to retain their dominance in the market. As long as bulls can sustain above 5967, they remain in a strong position to dictate market trends.
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WEEK OF DECEMBER 2, 2024
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The FTC has launched an antitrust investigation into Microsoft (MSFT), targeting cloud and licensing practices amid allegations of anti-competitive behavior, with potential political shifts under Trump’s presidency likely influencing its outcome and broader Big Tech scrutiny.
The U.S. Commerce Department has awarded Intel (INTC) a record $7.86 billion CHIPS Act subsidy to boost domestic semiconductor manufacturing, reflecting a historic investment in reshoring critical production, and reducing foreign reliance.
President Biden’s proposal to expand Medicare and Medicaid coverage for costly anti-obesity drugs like Novo Nordisk’s (NOVO) Wegovy and Eli Lilly’s (LLY) Mounjaro aims to improve accessibility and reduce patient expenses, sparking political debate.
Rivian Automotive has received conditional approval for a $6.6 billion loan from the U.S. Department of Energy to support its Georgia EV plant, aiming to scale production of affordable electric vehicles and compete with major industry players.
India is revising its electric vehicle policy to attract foreign automakers like Toyota, Hyundai, and Volkswagen by broadening incentives for production at existing plants, with finalized guidelines expected by March to boost local EV manufacturing.
The UK’s Financial Conduct Authority (FCA) plans to regulate cryptocurrency by 2026, outlining a comprehensive approach to address market abuse, disclosures, and ecosystem research, positioning the UK as the first EU country to regulate crypto markets.
S&P Outlook
Bear Case: Bears next goal is to push the price below the crucial 5900 level and sustain it there to secure bearish momentum. Successfully breaking and holding below 5900 would set the stage for targeting the next significant level at 5770, which is essential for continuing the bearish drive and gaining further market control.
Bull Case: Bulls have successfully maintained the price above the psychologically significant 5900 level. If price encounters resistance and fails to advance, it remains critical for bulls to hold above 5900 to position themselves for potential new all-time highs.
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WEEK OF NOVEMBER 25, 2024
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Happy Thanksgiving!
As we gather with loved ones to celebrate this season of gratitude, we want to take a moment to thank YOU—our amazing supporters, community members, and partners. Your belief in our vision and dedication to this journey means the world to us.
We also want to extend a heartfelt thank you to our incredible team and their families, whose hard work and support make everything we do possible.
Please note, the markets will be closed on Thursday in observance of the holiday. Take this opportunity to relax, reflect, and enjoy time with those who matter most.
Wishing you a joyous Thanksgiving filled with warmth, gratitude, and plenty of delicious food!
Important Prices
What’s Moving The Markets?
Gary Gensler’s resignation as SEC Chair, effective January 2025, concludes a controversial tenure defined by his regulation-by-enforcement approach to cryptocurrency, coinciding with political shifts as President-elect Donald Trump prepares for his second term.
Nvidia (NVDA) faces short-term challenges with supply chain constraints and production delays for its Blackwell chips, but demand for its AI processors remains exceptionally strong, underscoring its long-term dominance in the booming AI market.
Amazon (AMZN) has invested $8 billion in Anthropic to deepen their AI partnership, aiming to develop Trainium chips, bolster AWS Neuron, and challenge Nvidia’s dominance in the AI hardware market despite Anthropic’s existing reliance on Nvidia GPUs.
The United States may impose tariffs of up to 40% on Chinese imports, potentially cutting China’s growth by 1 percentage point, as economists warn of escalating trade tensions and Beijing grapples with domestic economic challenges.
Apple (AAPL) has urged the dismissal of a DOJ lawsuit alleging monopolistic practices, arguing insufficient proof of monopoly power, as the case highlights ongoing antitrust scrutiny of Big Tech and its impact on industry competition.
The cryptocurrency industry is energized as President-elect Donald Trump plans to create a Bitcoin (BTC) reserve, establish a White House crypto role, and form an advisory council involving key figures like Coinbase’s (COIN) Brian Armstrong to shape U.S. digital asset policy.
S&P Outlook
Bear Case: Bears are currently defending within a supply zone, aiming to push the price below the crucial 5900 level and sustain it there to secure bearish momentum. Successfully breaking and holding below 5900 would set the stage for targeting the next significant level at 5770, which is essential for continuing the bearish drive and gaining further market control.
Bull Case: Bulls have successfully maintained the price above the psychologically significant 5900 level and are now challenging the upper boundaries of a supply zone. To continue their upward trajectory, bulls need to break through this zone effectively. If the price encounters resistance and fails to advance, it remains critical for bulls to hold above 5900 to position themselves for potential new all-time highs.
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WEEK OF NOVEMBER 18, 2024
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We’re thrilled to announce that Traderverse will be attending DC Startup Week!
This exciting event brings together innovators, entrepreneurs, and investors, and we’re eager to showcase our vision for the future of social trading. We look forward to connecting with the vibrant startup community, sharing our journey, and exploring new opportunities for growth. If you’re attending, we’d love to meet you and discuss how Traderverse is transforming the trading experience.
See you in D.C.!
Important Prices
What’s Moving The Markets?
Federal Reserve Chair Jerome Powell signaled a cautious approach to rate cuts, citing robust economic growth, resilient employment, and persistent inflation above target, emphasizing flexibility while acknowledging uncertainty in navigating future monetary policy adjustments.
Biotech, pharmaceutical, and food stocks plunged after President-elect Trump nominated vaccine critic Robert F. Kennedy Jr. to lead HHS, sparking market uncertainty over regulatory changes and vaccine policies, while consumer goods stocks gained modestly.
The U.S. has ordered Taiwan Semiconductor Manufacturing Co. (TSM) to halt shipments of advanced AI chips to Chinese customers, intensifying export controls to curb China’s AI and semiconductor advancements, citing national security concerns and potential Huawei export control violations.
The AI industry is beginning to shift from scaling massive models to smarter, human-like reasoning, exemplified by OpenAI’s o1 model, promising efficiency, reduced resource reliance, and transformative innovation in a rapidly evolving competitive landscape.
Amazon (AMZN) is developing smart glasses, called “Amelia,” to streamline last-mile delivery logistics by providing navigation, package scanning, and proof-of-delivery capabilities, aiming to reduce costs amid rising shipping expenses and growing competition.
The cryptocurrency industry is optimistic about transformative policy changes under President-elect Trump, focusing on regulatory reforms, banking access, pro-crypto leadership, and a potential U.S. Bitcoin reserve, as Bitcoin (BTC) surges past $90,000.
S&P Outlook
Bear Case: Bears are currently focusing on the pivotal 5900 level, aiming to break below and sustain it to reinforce their bearish momentum. Achieving this breakthrough is crucial for continuing the downward trend, with the next significant target positioned around 5770. This level is essential for bears looking to deepen the market’s decline and secure a stronger bearish position.
Bull case: Bulls face the task of maintaining the price above the 5900 pivot to unlock further upward potential. Holding this level is critical for sustaining bullish control. If they manage to defend this position successfully, the next challenge will be to break into and surpass the upcoming supply zone starting at 6007, which could pave the way for more substantial gains in the near future.
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WEEK OF NOVEMBER 11, 2024
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We’re thrilled to announce that Traderverse will be attending DC Startup Week!
This exciting event brings together innovators, entrepreneurs, and investors, and we’re eager to showcase our vision for the future of social trading. We look forward to connecting with the vibrant startup community, sharing our journey, and exploring new opportunities for growth. If you’re attending, we’d love to meet you and discuss how Traderverse is transforming the trading experience.
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Important Prices
What’s Moving The Markets?
Donald Trump has reclaimed the presidency with a decisive victory over Kamala Harris, securing 312 electoral votes and a popular vote lead, as economic concerns drove rural and working-class support, sparking market optimism and signaling potential shifts in U.S. policy.
The Federal Reserve cut interest rates by 0.25%, bringing them to 4.50%-4.75%, to stabilize inflation and employment as policymakers assess the potential impacts of President-elect Trump’s economic agenda, while Fed Chair Powell signaled no immediate policy changes.
Apple Inc. (AAPL) may soon face the first fine under the EU’s Digital Markets Act, a sweeping regulation aimed at curbing tech giants’ market dominance, as EU regulators intensify efforts to enforce fair competition standards across digital markets.
The U.S. Supreme Court’s upcoming cases on Meta (META) and Nvidia (NVDA) could significantly reshape private securities fraud litigation, with potential rulings favoring corporate protections amid recent limitations on federal regulatory powers, making private legal actions crucial for accountability.
Amid hopes for growth, emerging market investors face heightened uncertainty in 2025 as Trump’s presidency looms, signaling potential tariffs, a strong U.S. dollar, and geopolitical shifts that compel a cautious, recalibrated investment approach.
In a strategic shift, Russia, while not abandoning the US dollar, is opting to minimize its role in settlement transactions, reflecting BRICS’ broader push for financial independence and a nuanced approach to de-dollarization.
S&P Outlook
Bear Case: Bears need to decisively break and sustain the price below 5900 to initiate genuine bearish momentum. If they manage to achieve this, the next critical target would be 5706, marking a significant milestone for a strong bearish movement. These steps are crucial for bears aiming to reverse the current upward trend and instigate a deeper market correction.
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WEEK OF NOVEMBER 4, 2024
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We’re thrilled to announce that Traderverse will be attending DC Startup Week!
This exciting event brings together innovators, entrepreneurs, and investors, and we’re eager to showcase our vision for the future of social trading. We look forward to connecting with the vibrant startup community, sharing our journey, and exploring new opportunities for growth. If you’re attending, we’d love to meet you and discuss how Traderverse is transforming the trading experience.
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Important Prices
What’s Moving The Markets?
Big Tech companies like Microsoft (MSFT), Meta (META), and Amazon (AMZN) are significantly ramping up investments in AI infrastructure, spurring rising costs and pressuring margins, with Wall Street impatient for quicker returns despite the promise of long-term gains.
Hedge funds and investors are leveraging “Trump trades,” like bitcoin and yuan positions, as asymmetric bets on a Trump victory, balancing potential high returns against limited losses if Kamala Harris wins, amid a tightening U.S. election race.
Tesla’s (TSLA) 2025 goal of 30% sales growth, driven by a new affordable model and self-driving software, faces skepticism amid intensifying EV competition, affordability challenges, and Wall Street’s lower growth forecasts, keeping investors vigilant.
Global brands are grappling with declining Chinese consumer demand amid economic challenges, property crises, high youth unemployment, and fierce local competition, prompting diverse strategies from price cuts to scaled-back operations, while awaiting impactful government stimulus.
Intel’s (INTC) shares rose 5% after an optimistic revenue forecast, despite disappointing AI chip sales as the company struggled to meet ambitious goals in its AI division, raising investor concerns about Intel’s long-term strategy.
Bitcoin ETFs have surged to hold over 1 million BTC, driven by record inflows from institutional investors, with BlackRock (BLK) leading the charge as the sector gains popularity and legitimacy amid October’s “Uptober” market enthusiasm.
S&P Outlook
Bear Case: Bears have successfully managed to keep the price below the all-time highs and are now challenging a potential demand zone. Their immediate objective is to breach this zone, with the next target set at 5706. To sustain bearish momentum and encourage further declines, bears aim to maintain control and keep the price below 5840, a critical threshold in their strategy.
Bull Case: Bulls are currently positioned within a possible demand zone that they are actively defending to stabilize the price. To capitalize on upward potential, bulls need to break through and consistently hold above the 5840 mark. Achieving this would allow bulls to drive the market toward further highs, continuing their push for upward momentum.
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WEEK OF OCTOBER 28, 2024
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We’re thrilled to announce that Traderverse will be attending DC Startup Week!
This exciting event brings together innovators, entrepreneurs, and investors, and we’re eager to showcase our vision for the future of social trading. We look forward to connecting with the vibrant startup community, sharing our journey, and exploring new opportunities for growth. If you’re attending, we’d love to meet you and discuss how Traderverse is transforming the trading experience.
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Donald Trump’s tax reform proposal aims to exempt approximately 93.2 million Americans from certain income taxes, eliminate taxes on tips and Social Security benefits, and generate revenue through a 20% universal tariff on imports.
The EU Court of Justice ruled in favor of Intel (INTC), concluding a nearly two-decade antitrust dispute with regulators over rebates to major manufacturers, upholding a prior judgment and reinforcing Intel’s competitive position in the semiconductor industry.
Taiwan Semiconductor Manufacturing Company (TSM) discovered one of its chips in Huawei’s Ascend 910B AI chip, prompting concerns of export violations, despite TSMC’s previous compliance since mid-September 2020, highlighting ongoing challenges in regulating tech exports to China.
UBS (UBS) is divesting its 50% stake in Swisscard to American Express (AXP), enabling full ownership transfer and cardholder transition to UBS’s platform, as part of its broader strategy to offload non-core assets following the Credit Suisse takeover.
Tesla (TSLA) shares soared nearly 22% after CEO Elon Musk projected a 20%-30% sales growth for the upcoming year and plans for a more affordable vehicle by 2025, boosting investor confidence amid ongoing concerns about the company’s focus on AI and robotics.
In 2024, the cryptocurrency sector has seen significant advancements, highlighted by Kraken’s upcoming Ink blockchain launch in 2025, aimed at enhancing decentralized finance activities and attracting both retail and institutional investors amid increased market interest and competition.
S&P Outlook
Bear Case: Bears have successfully dismantled the demand zone established last week, shifting their focus to further bearish objectives. The next critical step involves pushing the price below and sustaining it beneath 5723 to amplify their bearish momentum. This move is crucial for bears as they aim to deepen the market’s downward trajectory.
Bull Case: Bulls face the challenge of maintaining the price above 5770, a level where a significant demand zone has been recently formed. Successfully defending this level is vital for sustaining bullish control. If this support holds, bulls will aim to breach and secure positions above 5900 as a stepping stone towards achieving new all-time highs, continuing their upward market drive.
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WEEK OF OCTOBER 21, 2024
Welcome to the Traderverse Weekly Newsletter!
We’re thrilled to announce that Traderverse will be attending DC Startup Week!
This exciting event brings together innovators, entrepreneurs, and investors, and we’re eager to showcase our vision for the future of social trading. We look forward to connecting with the vibrant startup community, sharing our journey, and exploring new opportunities for growth. If you’re attending, we’d love to meet you and discuss how Traderverse is transforming the trading experience.
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Important Prices
What’s Moving The Markets?
Traders are betting on further European Central Bank (ECB) rate cuts after consecutive reductions, driven by a worsening economic outlook and easing inflation, as eurozone bonds gain slightly but the euro weakens amidst concerns over economic risks and external pressures like U.S. tariffs.
Taiwan Semiconductor Manufacturing Co. (TSM) reported a 54% surge in quarterly profits, driven by strong AI chip demand, while increasing capital spending and projecting nearly 30% full-year revenue growth, solidifying its dominance in the global semiconductor market and positioning itself for future success.
A new report reveals that AI models from major tech companies like Meta (META), OpenAI, and Alibaba (BABA) are falling short of EU regulations on cybersecurity resilience and bias, potentially leading to significant fines and reputational damage as the EU prepares to enforce its comprehensive AI Act.
Netflix (NFLX) exceeded Wall Street expectations by adding 5.1 million new subscribers in Q3, boosting stock by 4.8% in after-hours trading, while focusing on revenue growth and profit margins, with earnings of $5.40 per share and revenue of $9.825 billion, driven by ad-supported plans and upcoming content releases like “Squid Game.”
Boeing (BA) aims to raise $15 billion through common stock and mandatory convertible bonds amid ongoing financial strain from a labor strike and operational challenges, while also exploring a $5 billion structured finance transaction to bolster its liquidity and protect its investment-grade credit rating.
In a pivotal move for global trade, BRICS has adopted cryptocurrencies for investment payments, as announced by Russian President Vladimir Putin at the BRICS Business Forum, enhancing economic resilience and paving the way for the new BRICS Pay platform to facilitate transactions in local currencies.
S&P Outlook
Bear Case: To establish a bearish momentum, bears need to decisively break and maintain the price below 5810. Successfully achieving this could pave the way to target the next crucial level at 5770. These steps are essential for bears aiming to reverse the current market trends and instigate a significant downward movement.
Bull Case: Bulls continue to excel in creating and reinforcing demand zones. A new potential demand zone has been identified starting at 5836, which could play a pivotal role if the market retraces. Maintaining support at this level is crucial for bulls to harness and continue their push towards setting new all-time highs, underlining their dominant market presence.
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