Hi everyone,
market is attempting a rebound after the massive dip last Friday (Powell's hawkish and gloomy comments).
SP500 is in an ascending channel and found support on the middle but will it last? probably not i would say.
Either now at 4073 resistance or higher at the end of the channel (4170) I expect a new dip to follow.
Things ae not going well with inflation being a huge issue especially in Europe with winter coming next and energy being a difficult to solve issue. Some areas could start entering recession mode next and i would rather be prepared to short rather than Buy in the next coming days again.
Hope I am wrong!
One Love,
The FXPROFESSOR
ps. Friday is NFP, employment in the US is a key factor and Powell did mention 'losing jobs' on Friday.. kinda scary but we will find out on friday. Stick around
market is attempting a rebound after the massive dip last Friday (Powell's hawkish and gloomy comments).
SP500 is in an ascending channel and found support on the middle but will it last? probably not i would say.
Either now at 4073 resistance or higher at the end of the channel (4170) I expect a new dip to follow.
Things ae not going well with inflation being a huge issue especially in Europe with winter coming next and energy being a difficult to solve issue. Some areas could start entering recession mode next and i would rather be prepared to short rather than Buy in the next coming days again.
Hope I am wrong!
One Love,
The FXPROFESSOR
ps. Friday is NFP, employment in the US is a key factor and Powell did mention 'losing jobs' on Friday.. kinda scary but we will find out on friday. Stick around
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