星期三的想法

 

 


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Market Closing Prices 

Chinese stocks overnight were mixed (ended higher but had an ugly afternoon session).

European stocks ramped into their close (before The Fed spoiled the party).

Stocks had rallied into the Fed statement, kneejerked higher, then drifted lower after Powell mentioned valuations, then accelerated lower on a big MoC Sell. 

On the week, all major indices are red (Nasdaq hovering around unch).

Equity performance post-Fed was ugly.chairmanpowellfed.png

Bank stocks took a hit today.

The Dollar and Treasury yields ended lower.

With all yields aside from the 2Y now lower on the week (5Y unch).

The yield curve flattened notably after The Fed.

Dollar Index has been trading in the chop as of late. 

The CNY Fix was at its weakest since Aug 23rd.

PMs and WTI slipped (crude build), copper was flat.

Gold and Silver chopped around after The Fed.

 


Technical Notes 

S&P 500 Index had a recent upside red Sequential Countdown on day 13 and a Combo 13. There is a secondary Countdown pending on day 9 of 13 that now could play out to the upside. 

NDX Index back down to the 50-day moving average. There is a secondary upside red Countdown pending on day 7 of 13. 

IWM Russell ETF now has an upside red Countdown exhaustion 13 and Combo 13 Countdown too. Support at 166.09 

Goldman Sachs financial conditions index has not improved to the levels seen at last January’s peak. An increase indicates tightening of financial conditions. There are two categories yield spreads and asset price behavior. 

 

SMH Semiconductor ETF now on downside Demark Sequential Countdown on day 2 of 13. 

 

S&P Communication Services sector is new and is right at resistance in wave 5. 

 

DXY Index now with downside red Sequential 6 of 13. This could see a lower high wave 2 bounce of 5 down waves. 

Euro bounced into resistance with a red upside Sequential Countdown and still on day 7 of 13. The lack of continuation could see a choppy pullback to the 50- day moving average before another move higher. 

Chinese Yuan vs. USD has seen wave 4, a corrective pullback. A move below 6.9471 will trigger wave 5, which will likely see lower through 7.00 or this has an upside wave 3 price objective of 6.6987. 

 


-R.W.N II

BanyanMe

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