From NASDAQ's Triumph to Oil's Indecision: A Tuesday Market Overview

Tuesday's macro calendar offers a quiet atmosphere, with the BRICS country summit commencing as the key event of the day. Nonetheless, the U.S. isn't entirely silent, set to present existing home sales and the Richmond Manufacturing Index to the world. It's a muted day, but these numbers could potentially cast a ripple in the current market dynamics.

Reflecting on Monday, the markets displayed fascinating turns. Indices, for instance, sprung to life, with the NASDAQ showcasing its most robust performance for August. It's always captivating to witness a market recovery, especially when it's as vibrant as what we saw yesterday.

Venturing into the world of currencies, there's an intriguing dance unfolding. Dominating the floor with newfound energy, the New Zealand and Australian dollars rise, countering their previous streaks of decline. These antipodean currencies exhibit strength, providing a stark contrast to the American dollar which currently finds itself in the midst of a correction. It's notable to mention yesterday's currency dynamics as well. The Japanese yen, usually a stalwart, was the weakest link, while its fellow safe haven, the Swiss franc, gleamed as the day's star.

Taking a closer look at specific pairs, NZDUSD offers a tale of resurgence. It's climbing, gradually erasing the memories of its prolonged downturn. Then there's the EURGBP, which seems to be quietly prepping itself for a fresh bearish onslaught.

Now, to the realm of commodities. On Monday, precious metals climbed the ladder while oil slipped a few steps down. Most significantly, both Brent and WTI oil painted a 'shooting star' pattern on their daily charts yesterday. These shooting stars, positioned tantalizingly below crucial horizontal resistances, send a clear signal. For those considering mid-term positions, they seem to whisper: "It might be time to go short."