Earnings start to kick in (with Caterpillar and Apple in the spotlight) and the media are telling us all about everything under the sun as usual. Bloomberg for example…
The media’s focus on the Fed and its mixed messages is one of the more interesting, as Mr. Powell prepares to speak on Wednesday, adding to an already info-packed week.
Folks, it’s gonna get noisy out there. This article plans out for Powell what he should say and how he should say it. Because you know, the market is supposedly on tenterhooks.
Well, that was so December 2018. This is just one graphic (by way of Sentimentrader) that shows casino patrons have come a long way from sucking their thumbs on Christmas Eve day.
Just look at that spike in optimism as SPX has only regained half its post-September losses.
Speaking of SPX, here is the daily chart showing a gap that evidently wants to be filled today. The drill is the same as we managed last week in NFTRH updates. That gap can fill with SPX still above support.
But as we noted by several vantage points in NFTRH 536, it is a market at risk and technically speaking, the whole relief thing is still within the context of a downtrend. So party on Garth, but back off the heavily spiked punch. Maybe switch to Bud Light for now.
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