To The Moon

WEEK SUMMARY

Friday session:

• American actions fell again on Friday during the triple witch day.

$S&P 500(.SPX)$ dropped 1.1 %, but won 1.4 % over the week.

$NASDAQ(.IXIC)$ fell 0.7 %, retaining a weekly gain of 4.4 %.

$DJIA(.DJI)$ dropped 1.2 %, down 0.2 % over the week

According to Dow Jones Market Data, approximately 9.35 billion shares exchanged the New York Stock Exchange, which has constituted its larger day since January 27, 2021.

The total composite volume, (Nasdaq, Nyse American and Nyse Arca), was 19.92 billion negotiated shares. This is the highest total composite note since June 24, 2022.

In the foreground it is the banking who suffered, with the actions of the $First Republic Bank(FRC)$ dropped by 33 %. The company suspended its dividend after closing the market last night. However, the actions had increased Thursday after $JPMorgan Chase(JPM)$ $and other large banks intensified their rescue plan of $ 30 billion. The company also declared last night that she had recently borrowed from the federal reserve discount window ...

Financial suffered

First Republic Bank

$SVB Financial Group(SIVB)$ , the parent company of Silicon Valley Bank, said it had applied for the bankruptcy protection of Chapter 11 in New York.

Economics data

• On the economic level, the data was relayed in the background ... Yet investors awaited inflation ... The last major economic data that Jerome Powell and the decision -makers of the Federal Reserve saw before meeting next week to determine the next stage of monetary policy.

• Note however that the Consumer Confidence index of the University of Michigan has dropped for the first time in four months ... The drop in feeling would be linked to extremely high inflation.

MARKET SCENARIO

• A key question is whether bank concerns are calm now or if Thursday was only a break in the storm before other bad news made surfaces ...

The anticipations of increased interest rate increases by the federal reserve continue to evaporate. The yield of American treasury bills at 2 years fell to 3.85 %. This return was above 5% last Wednesday. It has been at its lowest level for almost six months.

The Federal Open Market Committee meets next week to determine where these rates will then. The implicit ratings of the term markets are now roughly at battery or face for an increase of a quarter of a point or no change at all. Barely a week ago, a half-point hike was the overwhelming favorite.

The Fed officials clearly indicated that they wanted to sin by excess of tightening rather than too little. Not increasing next week could send the bad signal, that of a serious concern about the banking situation, which would cause even greater panic on the market. Monitoring a clearly reported rate increase shows the calm and commitment of managers ...

The consumer price index was the last major economic data that Jerome Powell and the decision -makers of the Federal Reserve saw before meeting next week to determine the next step in monetary policy. A month ago, an increase of a quarter of a point was the wait. Last week, it was half a point. And then the banking crisis questioned everything ...

AGENDA

• Tuesday we will have the German Zew index and a speech by Christine Lagarde

• Wednesday, inflation in the United Kingdom and Fed decision on rates.

• Thursday, BNS and BOE monetary policy decisions, as well as the weekly figures for American unemployment.

• Friday, the March PMI Flash Indices for the main savings and orders for sustainable goods in the United States.

S&P 500 LEVELS

Please, find below the SPX levels retened: ( here the Last week )

• Key level : 4000

• Upper zone: 3975 at first resistance - 4065 in major resistance

• Lower zone: 3900 first support - 3800 in major support

SPX Levels

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@TigerStars @TigerPM