SPX500
Markets come down in premarket trading as we await the Fed decision this afternoon on interest rates. Odds are nearly 100% towards another pause in rate cuts, not something investors want to see. Although a pause is probably the right move from the Fed, the stock market might take a hit for a short period. Demand is still prevalent though, and yields are dropping too.
-Frank
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Markets come down in premarket trading as we await the Fed decision this afternoon on interest rates. Odds are nearly 100% towards another pause in rate cuts, not something investors want to see. Although a pause is probably the right move from the Fed, the stock market might take a hit for a short period. Demand is still prevalent though, and yields are dropping too.
-Frank
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Gold
Gold may have formed a head and shoulders pattern here on the 4H timeframe before the rate decision. Keeping rates higher for longer will likely put a damper on gold optimism as the metal trades directly against the strength of the dollar. What is more important are the forecasts going forward. We will get some insight on where Powell thinks rates should go based on the inflationary and labor environment. To sum this up, less rate cut expectations in the future will be bearish for gold.
-Frank
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Gold may have formed a head and shoulders pattern here on the 4H timeframe before the rate decision. Keeping rates higher for longer will likely put a damper on gold optimism as the metal trades directly against the strength of the dollar. What is more important are the forecasts going forward. We will get some insight on where Powell thinks rates should go based on the inflationary and labor environment. To sum this up, less rate cut expectations in the future will be bearish for gold.
-Frank
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Simplify your trading with tools like:
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β Market Sentiment Analysis
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Trading tip of the day:
Great trading doesn't necessarily mean making a lot of money quickly.
It means keeping your drawdowns to a minimum, and consistent growth over time.
Happy Thursday traders!
- Nick
Great trading doesn't necessarily mean making a lot of money quickly.
It means keeping your drawdowns to a minimum, and consistent growth over time.
Happy Thursday traders!
- Nick
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π₯ Whatβs Inside?
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NASDAQ Daily Chart:
With a strong economy, and institutional money still bullish on tech stocks, I still see more upside as the path of least resistance for NAS.
Fighting this uptrend has been a painful ride for short sellers.
Bullish trigger would be a breakout of this consolidation, and then looking for pullbacks.
- Nick
With a strong economy, and institutional money still bullish on tech stocks, I still see more upside as the path of least resistance for NAS.
Fighting this uptrend has been a painful ride for short sellers.
Bullish trigger would be a breakout of this consolidation, and then looking for pullbacks.
- Nick