🐳 WhalePool Traders Journal
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Bad trading habits make trading like gambling. This channel is for proactive and decerning investors and traders
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#USMarketUpdate
Stocks close lower as investors eye Mideast talks, earnings | Reuters

SUMMARY
Software stocks weighed down by AppLovin, Datadog resultsSpaceX finds footing as investors eye lockup expiryKey nonfarm payrolls data due on FridayIndexes off: Dow 0.85%, S&P 500 0.18%, Nasdaq 0.06%

NEW YORK, Aug 6 (Reuters) - U.S. stocks finished the trading session lower on Thursday, pausing ​after a strong start to the week, as investors digested the latest round of corporate earnings and looked for signs of progress ‌toward a peace deal between the U.S. and Iran.

A robust earnings season, which has tempered some concerns about the massive spending by AI-related companies, and growing optimism over the potential end of hostilities in the Iran war helped propel both the Dow Industrials and S&P 500 to record highs earlier this week.

Oil prices rose, with U.S. crude settling up 2.75% ​at $77.29 a barrel and Brent settling at $82.49 per barrel, up 3.83%. Iran's semi-official Fars news agency reported that an Iranian parliamentary committee is ​reviewing a preliminary bill that would bar U.S., Israeli and other "hostile" vessels from transiting the Strait of Hormuz.

https://www.reuters.com/business/retail-consumer/sp-500-dow-futures-steady-mideast-deal-focus-chips-stumble-2026-08-06/

Dow, S&P slip as investors eye Middle East talks, earnings
https://www.straitstimes.com/business/companies-markets/dow-sp-slip-as-investors-eye-mideast-talks-earnings
OCBC Q2 profit rises 22% to S$2.22 billion, beating expectations

The earnings beat the S$1.91 billion consensus forecast in a Bloomberg survey of five analysts. OCBC declared an interim dividend of S$0.47 a share, up from S$0.41 a share the year before.

https://bt.sg/hs3p
No B.S. Just Charts.

The S&P 500 just broke out above a descending trend line, and Gareth #Soloway, Chief Market Strategist at Verified Investing, walks through exactly where the market is headed next based on probability via the charts. In this session, Gareth breaks down the parallel channel the market has been stuck in since the 2020 COVID lows, the bull flag that just resolved to the upside, and the first major resistance level traders need to monitor near 7,830 (a level he thinks could get hit as early as next week).

Gareth then runs a crash course in trend line reading, showing why not every trend line break turns him bearish, and where a real breakdown would open the door to selling all the way down toward 7,000 and a possible gap fill. From there he moves to the NASDAQ (QQQ), where relative strength held up despite the drops in the semis off Sandisk and Western Digital earnings, and he maps the multi-factor resistance zone stacking a gap fill, a pivot high, and the 88.6% Fibonacci retrace.

Gareth also covers Microsoft's gap fill near 507, and a textbook topping tail reversal signal on Alphabet, teaching the full candle criteria along the way. This is the breadcrumb approach to reading a chart: let the market tell you the most likely outcome.

https://youtu.be/xZkT0aOIafE?is=lH0Xcvk6Cj22QHC8
UOB Q2 profit rises 10% to S$1.48 billion, edging past estimates

The lender declared a dividend of S$0.88 per share for the period.

https://bt.sg/k6mHj
🇸🇬🎆 No NDP tickets? Here's our guide to the best (free) National Day fireworks viewing spots around Kallang so you can plan your evening family picnic: https://cna.asia/4fGF0vj
🇸🇬 PSA – Heading to NDP or driving near the National Stadium on Sunday? Take note of these road closures; if you're going to the parade, expect heavy crowds and security checks: https://cna.asia/3TETfs0