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10980 still in sight with 10830 support | 10891 key | 11007 resistance above

Nick@ht-admin
#1 · 6th August 2026, 8:52 am

Technical analysis for 6th August 2026

The overall picture remains constructive, although several markets are now pulling back after yesterday's strong advances. At this stage, I still view these as retracements within existing uptrends rather than trend reversals.

After the strong start to August, today's market feels a little more balanced. Yesterday's weaker-than-expected ADP employment report reinforced the idea that the US labour market is gradually cooling. Normally that would be supportive for equities because it reduces the pressure on the Federal Reserve to raise interest rates again. However, overnight the market has shifted its attention back towards technology.

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Last edited on 6th August 2026, 8:52 am by Nick