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Next Up, NKE
Nike saw some interesting movement against the Voodoo Lines after their earnings were released. With a confirmed failure at one of our most critical levels, this name could be looking for lower prices.
Fed’s Powell Speaks
Today we heard from the FOMC with it’s rate decision and then the Q & A presser afterwards. All in all things were fine until Powell spoke at which time the SPX lost about 100 points. Where to go from here? Well, lets take a look…
Another FED Day, Another Crazy Market Move.
In this video, we look at today’s wild price action from the FED meeting. The FED decided to raise interest rates another .25 bps which was widely expected. The fireworks started after the meeting with Powell’s commentary and the market did not like the results. I thought we would get more clarity from this meeting, but we are back where we started and back in wait and see mode. We will continue to trade this market as we have, taking only solid set ups, and using tight stops and solid trade management to reduce risk.
All Eyes On Powell
With the rate decision that will set the tone for like the remainder of 2023, we take a look at what has been baked-into-the-cake before tomorrow big event.
Keep An Eye On ES 3976.75
3976.75 has continued to come into play over the past few days. It’s a Micro Voodoo Fireline, and while these levels are primarily important to short-term trades, they’re quite important in that context.
CAT Setting Up For The Long Term Buy?
CAT has jut triggered a potential long term buy signal with a great risk/ reward. Here’s why.
Who’d Have Guessed
Would you ever imagine that another bank failure would lead to a rally of 1.5% in Europe and 1% in the US equity space? The overnight low in the ES was 3895, the year open. Today it rallied back to balance @ 3990, or +100 higher. Wow! Don’t go to sleep on this thing either because the fun is just beginning.
QQQ vs The World
Everything closed OpEx week right on their respective razor’s edge. Let’s cover the plan for next week.
Trick Or Treat
Come Wednesday, we will have more clarity on where rates are heading. Do the current Fed Fund Futures have it right or wrong? In this update, I share where I will be looking regardless of whether Powell is kind to the bulls or bears.
