132 replies to this topic

[redfoliage2]

But after this ST consolidation is done I see the IT rally is very likely to resume ....................

Edited by redfoliage2, 13 November 2023 - 12:44 PM.

[redfoliage2]

BTW, if CPI doing as expected tomorrow I'd expect SPX to go another leg higher.  I see the chance is pretty good for bulls  .........................

Edited by redfoliage2, 13 November 2023 - 01:03 PM.

[redfoliage2]

Dips just got bought relentlessly ...................

Edited by redfoliage2, 13 November 2023 - 01:21 PM.

[redfoliage2]

VST the market is likely to stay in a narrow range till CPI out tomorrow, so that dips get bought and pops get sold  .................

Edited by redfoliage2, 13 November 2023 - 01:55 PM.

[redfoliage2]

But I see it's more likely there will be a rally upon CPI as often the market follows the longer term trend upon a key event .........................

Edited by redfoliage2, 13 November 2023 - 02:12 PM.

[redfoliage2]

But I see it's more likely there will be a rally upon CPI as often the market follows the longer term trend upon a key event .........................

Provided that CPI out as the consensus or better.  But if the data is worse we may see a deeper pullback tomorow ....................

Edited by redfoliage2, 13 November 2023 - 02:29 PM.

[dTraderB]

Closed 4430

ES 4416 HEDGE LONG

WILL OPEN NQ HEDGE LONG BELOW 15450

[dTraderB]

Jonathan Ferro (@FerroTV) posted at 5:45 AM on Tue, Nov 14, 2023:
BofA Fund Manager Survey

-76% say hiking cycle is over
-80% expect lower short rates
-Record 61% expect lower yields
-Just 6% see higher CPI in 2024 https://t.co/bCC0IDYIff

[dTraderB]

CPI should be LOWER. BUT CORE may flat to higher. In any case, markets should continue higher with FOMO NEWBIE LONGS buying the shallow pullbacks.
This is a great daytrader/ST/VST market at these level UNTIL SOMETHING BREAKS e.g. another CONGRESS FIASCO, GOVT SHUTDIWN etc... MIDEAST INSTABILITY etc

"According to consensus forecasts at least, U.S. headline inflation is expected to have retreated sharply again in October back toward midyear lows around 3.3%. A near 15% drop in retail gasoline prices since late September should help see to that.



But underlying 'core' inflation is expected to stay stickier at an unchanged annual rate of 4.1% last month and still more than twice the Fed's target."

[dTraderB]

REUTERS:

Key developments that should provide more direction to U.S. markets later on Tuesday:
U.S. Oct consumer price inflation, NFIB Oct small business survey
Federal Reserve Vice Chair Philip Jefferson, Cleveland Fed President Loretta Mester and Chicago Fed chief Austan Goolsbee all speak; Fed Vice Chair for Supervision Michael Barr testifies before Senate Committee on Banking, Housing and Urban Affairs; Bank of England Chief Economist Huw Pill speaks
China's President Xi Jinping starts visit to United States
U.S. corporate earnings: Home Depot

CPI should be LOWER. BUT CORE may flat to higher. In any case, markets should continue higher with FOMO NEWBIE LONGS buying the shallow pullbacks.
This is a great daytrader/ST/VST market at these level UNTIL SOMETHING BREAKS e.g. another CONGRESS FIASCO, GOVT SHUTDIWN etc... MIDEAST INSTABILITY etc

"According to consensus forecasts at least, U.S. headline inflation is expected to have retreated sharply again in October back toward midyear lows around 3.3%. A near 15% drop in retail gasoline prices since late September should help see to that.



But underlying 'core' inflation is expected to stay stickier at an unchanged annual rate of 4.1% last month and still more than twice the Fed's target."