Market Analysis

The Breakout Opportunities system has just sold USDCHF at 0.91932. The system recommends entering this trade at any price between 0.918 and 0.92051. The signal was issued because the USDCHF has broken its 24-hour low while our Speculative Sentiment Index was at 3.66509, suggesting that the USDCHF may have further to fall. A stop loss has been set at the 24-hour high of 0.92408 and a profit target has been set at the 1 Day ATR level at 0.91405. The system will move the stop to the next 24-hour high every time that 24-hour high is lower than the previous 24-hour high. Breakout Opportunities is a breakout strategy that aims to catch the significant moves that typically happen when currencies break through technical support or resistance.

Investors have shown few signs of panic during a stock market slump that's pushed the S&P 500 Index into its first losing quarter in a year. But beneath the surface, signs of stress are emerging that go far beyond the just averted US government shutdown.

It's not the intensity of the drop that's weighing on sentiment, but rather the fact that big down days are getting more frequent and there's been a scarcity of large rebounds. Three of the six days when the S&P 500 lost more than 1% last quarter occurred since mid-September. And there were only two days when the index gained more than 1% in the quarter. That down-to-up ratio of three is the highest since 1994, data compiled by Bloomberg show.

As September comes to a close, Bitcoin is poised to end the quarter on a down note in its first quarterly decline this year.

The largest cryptocurrency by market value is down about 11% since June, and traded at around $26,970 on Saturday in New York. It surged 83% in the first six months of this year, rebounding in part from a 64% plunge seen in 2022 as the digital asset sector was roiled by scandals and bankruptcies.