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Market Overview

Fintech Focus For June 1, 2021


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Quote To Start The Day: “Showing is better than telling.”

Source: Floyd Mayweather

One Big Thing In Fintech: Ray Dalio, a billionaire investor and the founder of the world's largest hedge fund Bridgewater Associates, has said that the digital yuan will be more competitive than the digital dollar.

Source: Block

Other Key Fintech Developments:

Watch Out For This: Life as depicted in George Orwell’s 1984 “could come to pass in 2024” if lawmakers don’t protect the public against artificial intelligence, Microsoft’s president has warned.

Source: BBC

Interesting Reads:

Market Moving Headline: Coming into the large May monthly options expiration (OPEX) and the extended holiday weekend, U.S. stock index futures pinned, trading sideways-to-higher.

Key Takeaways: Index futures in balance.

- Best to assume the taper tantrum happened.

- Ahead: Fed speak and data on employment.

- Indices traded sideways-to-higher last week.

In the coming sessions, participants will want to focus their attention on where the S&P 500 trades in relation to the $4,197.25 high volume area (HVNode).

In the best case, the index trades sideways or higher; activity above $4,197.25 has the potential to reach the $4,227.00 point of control (POC). Initiative trade beyond the POC could reach as high as first the $4,238.00 overnight all-time high (ONH) and then, the $4,294.75 Fibonacci-derived price extension, a typical recovery target.

Source: Physik Invest


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