Risk-Off Event That Most Miss
S&P 500 early session upswing was rejected, and neither 6,010 or low 5,990s stopped the sellers. It‘s that services PMI and JOLTs data were so good that they dialed back yet further rate cut or dovish Fed policy expectations (March).
All explained in this highly practical video – what were the macroeconomic and chart clues that allowed me to call for a dip on the data, check it out on Youtube and thanks for yet another great video reception.
What‘s ahead today? ADP employment change (focus is on small companies, before the big figure arrives Friday), and one has to seriously ask (considering sharp NVDA reversal and crypto pressures while yields gapped up), who is ready to put fresh capital to work before Friday‘s NFPs and today‘s Fed minutes?
Pretty volatile session ahead, yet yesterday‘s price action in the power hour was rather clear as well, and today I already delivered some IWM short gains to fast intraday clients acting premarket..
Let‘s dive into the bond market charts for more insights – review today‘s stocks and gold video for extra preps preview.
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