$SPX - 1 Week After Jackson Hole
$S&P 500(.SPX)$ - 1 Week After Jackson Hole
Big moves in 2022 and 2023.
As mentioned yesterday in the DXY chart, the market is expecting rate cuts.
J Powell will provide direction in a couple of hours.
Image
A bearish engulfing pattern has formed, with the 5-day moving average breached.
The $Cboe Volatility Index(VIX)$ 's continued rise is another bearish factor. This volatility index has been steadily increasing since Tuesday.
Nothing unexpected in terms of seasonality and the big event ahead.
Remember my previous chart for DXY, it did bounce today, now it's the turn of Powell to seal the reversals.
Image
https://x.com/SmartReversals/status/1826939910080647619
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
- YueShan·08-27Good⭐️⭐️⭐️LikeReport