More evidence of a weakening US labor market: The quits rate in the private sector declined to 2.0% in October, the lowest since the 2020 pandemic. This measures the proportion of private workers voluntarily quitting their jobs. At the same time, the total nonfarm quits rate fell to 1.8%, the lowest since May 2020. Both metrics are now consistent with levels seen during in midst of the 2008 Financial Crisis. For perspective, private and total quits rates during the 2001 recession were higher at 2.5% and 2.2%, respectively. As hiring slows, fewer job opportunities are present, leading to a reduced number of workers quitting. $BTC
$NEAR /USDT : The daily trend is bearish. But right now, the 1-hour chart is giving us a perfect counter-trend bounce to sell into. Price is testing a key level below its 1-hour moving average. The 15-minute momentum is weakening below the 50 RSI line. This is the pullback we've been waiting for to join the bigger downtrend. Get ready.
Actionable Setup Now (SHORT) Entry: market at 1.533116 – 1.541412 TP1: 1.512374 TP2: 1.504078 TP3: 1.487485 SL: 1.562153
Gold's historic run Gold prices have remained above their 200-day moving average for ~550 trading days, the 2nd-longest streak on record. This is only below the ~750 trading sessions seen following the 2008 Financial Crisis. During the current streak, gold prices have rallied +135%, surpassing the 2009–2011 gain of +91%. By comparison, the 1986–1988 run lasted ~510 trading sessions, during which gold prices increased +38%. Meanwhile, the 1978–1980 streak lasted ~495 sessions, with gold prices rallying +209%. Gold's momentum remains historically strong. $XAU