To The Moon

Friday Recap: Read the "SPX-Apple Led the Charge" post by following this link: SPX- Apple led the charge...

$Apple(AAPL)$ 

• FOMC November 2 will be this week's event:

Investors' new bet on a less aggressive Fed tempered the yield on 10-year T-Bonds, which hovered below 4%...

All shorter maturities now offer higher yields, meaning two things:

- The market fears the return of the recession in the United States.

- The rate hike cycle would be coming to an end...

While interest rate futures are still pricing in a 75 basis point hike at the Fed meeting, they would now only expect a half a point hike in December and no more than a half a point more in the next two meetings...

However, central bank officials would be unlikely to ease their aggressive stance without stronger evidence of slowing inflation...

• Regarding the $S&P 500(.SPX)$  

As I write these lines, US Futures are slipping slightly into negative territory...

Since the lows of this month of October, the SP500 has ranged over 11% in 12 days.

From now on, on the level of 3900 considered to be a resistance...

Let's say the easy part is behind, now the SPX should consolidate with a hard to break zone 3900-4000.

Here are the levels (for informational purposes and not buy-sell advice):

Key levels: 3860 - 4000

Resistance zone 3900-4000

Support area 3600-3700

Thanks for reading.

@Do_Trading on twitter for regular posts.