$Nasdaq100 Bear 3X ETF(SQQQ)$Next week QQQ and the tech sectors will not be good as well as we approached Oct 13 for Sept 2022 CPI data released.
Labour market remains strong, while housing prices and rent remained sticky and elevated as these takes time to adjust (e.g. you have to fulfil for rent obligation regardless of the interest). Worst of all, oil price reboundedafter OPEC wants to cut oil production.
All this points to a hot inflation data in Sep 2022. Oct CPI should moderate purely because Oct 21 is the first time we saw CPI spiked to 6+%. So hold on to dear life!
Next week US companies will also kickstart their 3Q reporting. If earnings are as bad aswhat AMD reported, then expect another correction of 10-20%. Even midterms rally will be cancelled :(
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Comments
Good share