Mungerism
04-14

Set Up for next week: Heightened geo-political tension & S&P technicals

Breaking news of drone attacks by Iran on Israel following Friday's fall at the start of earnings season is the setting up next week's reading scene. With the prospect of less and less rate cuts compounded by heightened geo political tensions, market is increasingly nervous. This can be seen by the sudden spike in Vix on Friday ( second chart). Furthermore on a technical basis the S&P has broken out of its channel (3rd chart). All these doesn't set up well for the S&P to get beck into its support channel. We need a stellar report from Netflix or Fed officials coming out with more soothing messages on rate cuts. Stay very cautious

Rate Cut Delay: Will S&P Drop Below 5000?
Federal Reserve Chair Jerome Powell said firm inflation during the first quarter had introduced new uncertainty over when and whether the central bank would be able to lower interest rates later this year. ------------------ Will S&P 500 drop below 5000? Is a short term correction or the end of bull market?
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Comments

  • wavyix
    04-15
    wavyix
    🤔 Let's hope for some good news from Netflix or the Fed to calm the nerves.
  • pcwSg
    04-15
    pcwSg
    [Like] [Like] [Like]
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