The main narrative moving the indices is “What is the FOMC going to say or do next?” There is a simple way to decode this: The 30-year Bond. Whether intraday or end of day, where rates are heading next dictates where the S&P, NASDAQ, and Dow are heading next.
What symbols are in uptrends with the messaging that while rates will still go higher, the expectations are set.
In this video, we look at today’s crazy rally that came from Powell’s comments. We got an incredible 122 point rally in the SPX and the rally was across the board. What should we expect next? I have been saying that we need to wait until the next PPI, CPI, and FED meeting to see, and maybe this rally is a preemptive move to those events. For now, we have to look to the upside as I don’t see this pulling back without some bad data points and hawkish commentary from the FED.
In this video, we look at today’s insane rally that came from Powell’s comments. We got an incredible 122 point rally in the SPX and the rally was across the board. What should we expect next? I have been saying that we need to wait until the next PPI, CPI, and FED meeting to see, and maybe this rally is a preemptive move to those events. For now, we have to look to the upside as I don’t see this pulling back without some bad data points and hawkish commentary from the FED.
Trend is always a function of time frame, and I want to spend a moment tonight reviewing one of my favorite aggregations, along with 2 setups inside that.
We discussed earlier about the importance of the 2nd 1/2 of the week and that Wednesday may kick it all off. Today Fed chair Powell delivered with quite the impact. Tonight I will talk through what we have seen and what I am planning for next.
Often called the heart breaker, this is why I think SI visits $24 in Dec.
