As we are now halfway through Q3, how should we view the economic market? > TheMarket

We are now halfway through the third quarter across all economic markets, including the U.S. stock market. 

Today, let's take a brief look at the U.S. stock market, the dollar, and commodities.

Today, the stock market closed higher as the likelihood of a rate cut in September increased due to the significant downward revision in the FOMC minutes and the U.S. employment report. And Nearly all major groups in the S&P 500 rose, bringing it close to an all-time high.

The Nasdaq is currently showing signs of a successful rebound after a downtrend caused by breaking below its trendline.

However, with strong resistance positioned between 19,900 and 20,300 points, it is advisable to avoid aggressive buying approaches at this time.

Next, let's look at the Dollar Index (DXY). Recently, DXY broke out of its bullish trend and has been showing a decline.

If it falls below the current trend's starting point around 99.6, we'll need to watch for a potential rebound within the 99 to 97 point range, where a support zone is located.

Gold has been showing tremendous strength, continuously hitting new highs. However, if it doesn't surpass the 200% Fibonacci level visible on the chart, there's a strong possibility it might turn bearish in the near term. Therefore, it seems more prudent to adopt a conservative approach, focusing on potential declines rather than aggressive buying.

In summary, the current market situation shows that while the U.S. stock market is on an upward trend due to the FOMC minutes and employment report revisions, the Nasdaq faces strong resistance, necessitating a cautious approach. The Dollar Index is in a downtrend, and gold is potentially on the verge of a bearish reversal, making a conservative strategy advisable.

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