The market pierced and fell📉
The reason for the drop—this chart explains it all. The news-driven factors are:
First, U.S. Treasury yields have reached the highest level in 19 years. What does that mean? If you keep money in a bank, the annualized return is nearly 6%. Is that interest rate insane?
Second, the Fed has started to act; it released signals saying that further data support may be needed for additional rate hikes, and it even suggests two more rate hikes.
The market is already quite fragile—everyone be careful. This is the point I’m reminding my friends who chased longs: unless it breaks above the previous high at 87,300, don’t rush in. Even if it reached 87,200 today, as long as it doesn’t break the prior high, it could form an M-top and then pull back.
In right-side trading, do you know how now?😘
Public and free content—learn it and come give me a commission/affiliate cut😘
The reason for the drop—this chart explains it all. The news-driven factors are:
First, U.S. Treasury yields have reached the highest level in 19 years. What does that mean? If you keep money in a bank, the annualized return is nearly 6%. Is that interest rate insane?
Second, the Fed has started to act; it released signals saying that further data support may be needed for additional rate hikes, and it even suggests two more rate hikes.
The market is already quite fragile—everyone be careful. This is the point I’m reminding my friends who chased longs: unless it breaks above the previous high at 87,300, don’t rush in. Even if it reached 87,200 today, as long as it doesn’t break the prior high, it could form an M-top and then pull back.
In right-side trading, do you know how now?😘
Public and free content—learn it and come give me a commission/affiliate cut😘
