Stock Indexes At Major Supports
All major stock indexes including NASDAQ100 S&P500, NASDAQ Composite, and Russel 2000 are at the bottom of their uptrend channels.
They could all break down, but it seems very unlikely as all asset managers are significantly bearish going into support. When we finally rally these guys are going to be force buyers the whole way up. Initial jobless claims are trending down since its peak in July. PPI which leads CPI has also dropped significantly the last two months. Asset managers are betting on a recession that isn't coming. The Fed hikes rates into a strong economy. They drop rates in a weak economy. When you see the Fed pause hikes and consider dropping rates, that's when you get scared.
All we need now is something positive to happen.
They could all break down, but it seems very unlikely as all asset managers are significantly bearish going into support. When we finally rally these guys are going to be force buyers the whole way up. Initial jobless claims are trending down since its peak in July. PPI which leads CPI has also dropped significantly the last two months. Asset managers are betting on a recession that isn't coming. The Fed hikes rates into a strong economy. They drop rates in a weak economy. When you see the Fed pause hikes and consider dropping rates, that's when you get scared.
All we need now is something positive to happen.
Note
Nasdaq Composite IXIC shows we are back above the long term trend testing support. This is such a good sign.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.