Powell speaking

[ad_1]


Share:

S&P 500 offered a fine session to those looking for the daily advance to be dialed back. We‘ve seen another weak push higher premarket.that still respected my key 4,065 – 4,080 zone. As I outlined in yesterday‘s very extensive analysis, it‘s about Powell delivering upon the bare minimum bond market expectations or not (short end of the curve)– all within the context of a larger stock bear market.

Keep enjoying the lively Twitter feed serving you all already in, which comes on top of getting the key daily analytics right into your mailbox. Plenty gets addressed there (or on Telegram if you prefer), but the analyses (whether short or long format, depending on market action) over email are the bedrock. So, make sure you‘re signed up for the free newsletter and that you have my Twitter profile open with notifications on so as not to miss a thing, and to benefit from extra intraday calls.

Let‘s move right into the charts.

S&P 500 and Nasdaq outlook

SPX

Modest upswing rejection, leaving one more day of selling to be desired. Powell can deliver that catalyst, and keep it alive by leaving enough of tightening guessing room available for non-farm payrolls and CPI. 4,015 would be a support harder to break.

Credit markets

HYG

Also this bond market reversal needs more selling, especially on the junk end. The TLT move by itself is though promising enough. Risk-off winds howling in the distance.

[ad_2]

Source link

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top