Get Ready for the Bear Market
Last week’s selloff was brutal for investors in the US stock market: the Dow Jones Industrial Average closed at its lowest level since late 2020, falling to 29590.41, losing 1.6% on Friday alone. With the S&P 500 currently down a whopping 23% from January’s highs this year, and other indexes close behind percentagewise, stock market bulls are understandably desperate to find any event to warrant optimism. Unfortunately, despite some respite from US inflation in July and August, there does not appear to be much reason to expect this selloff to stop anytime soon. With bearish momentum emerging for equities, and fears about an impending crash and recession growing, we have no choice but to get ready for the bear market.

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How To Trade EURCAD With the Edgefinder
For those of you looking for CAD pairs to trade, this could end up being one to play to the short side. Right now, the Edgefinder reads the pair at a -1 neutral rating. The trend is going against seasonality as price is forecasted to run slightly higher for the next seven days although things could change for the bulls. Canada is set to release new GDP data on Thursday and are expected to be worse than August. CAD's interest rate is equal to USD's but still with better expected GDP projections. The only metrics keeping this pair from being a strong sell are the trend reading and seasonality which is subject to change especially as we could see a drastic change in volatility in two days. The pair's recent move to the upside could be prepping for another leg down.

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NZDJPY Analysis
NZDJPY has been very bearish for the past couple weeks as price is heading towards a previous low just under 80.000. The 200 DMA couldn’t send the pair higher as it broke and closed under that level. We’re seeing some rejection from todays lows already in a bullish hammer pattern. This could signal temporary upside where price could move back towards the 200 and maybe test resistance on 83.078

SPX500 Analysis
SPX500 established a lower low at $3603 but is still relatively inside the support level on the 1D timeframe. We could be looking at a temporary bottom here as risk on pairs are starting to show rejection from the lows. This could be an opportunity for short term gains, and if so, price might come up to test resistance around the $3830s again.

Institutional investors are majority long USOil, ZAR, USD and gold. All assets saw a decrease in long contracts, especially risk on pairs which declined over 7% in one week. Let's not ignore institutional activity as it tells us where money is shifting in and out of. If this behavior persists, we might see more volatility in such assets and stability in bonds. This is a sign that we need to be aware of the potential market turbulence going forward. We will have to see by next week what big money decides to do as investors are beginning to run out of places to go.

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EURCAD is in an interesting position right now as price is coming up to resistance while CAD's GDP beats expectations. We will see an updated score on this pair tomorrow and this neutral rating will change. CAD is strong right now while the euro is struggling to boost consumer confidence and catch up to the major currency pairs. We could be seeing CAD pairs on discounts right now.

CADJPY Analysis
CADJPY falls to support and is able to hold itself above this level. A few candles on the 1D timeframe have been showing rejection from this spot which is promising for the bulls. Canada's GDP just beat expectations by 0.2% and was also showed positive growth this month. Although its economy isn't necessarily thriving, it is still growing as the central bank continues to take rates higher. So, this could be a decent level for long traders on this pair.

SPX500 Analysis
SPX500 falls in premarket although this doesn't mean much before the bell. Price could come all the way back up once there is more liquidity. But if it doesn't, the index could come back to test the lows which could result in a break lower. Price is likely to fall further, but in the near future, we could find a bear market rally to close out the week. So far, $9 trillion has been wiped out in the markets this year.

THE EDGEFINDER'S INDIVIDUAL ASSET PAGES
Each of the 38 individual assets available with the Edgefinder takes a deeper dive into the metrics and shows which category each currency is good in or lacking, and by how much. The score for each asset takes into account inflation, COT, GDP growth or decline, retail sentiment, seasonality, trend reading, unemployment, and interest rate divergence. It then takes all of those numbers and sums up the score. The further the score moves in the positive or negative direction, the stronger the buy or sell indication. You will also be able to look at a couple visuals including the meter that will tell you the score and where it falls in the “buy, sell or neutral range”.

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Historic Peril for the Pound
A strange series of events recently sent the United Kingdom’s Pound Sterling tumbling to historic lows. Just weeks after the death of Queen Elizabeth II (a head of state who was uniquely well-liked among the UK’s population by contemporary standards) Kwasi Kwarteng, Britain’s new chancellor in recently appointed Prime Minister Liz Truss’ administration, issued a fiscal statement on the 23rd of September. Paramount for this economic agenda are subsidies to provide price caps for devastating energy costs, along with an array of tax cuts, especially for high income earners. The plan, which would require extensive debt financing to execute (over 1.5% of GDP per year for the tax cuts), prompted GBP/USD to plummet past 1985's lows, briefly falling below 1.04 for the first time in history. This historic peril for the Pound has since been stabilized via emergency bond-buying intervention from the Bank of England (BoE).

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