2022/09/20 (073) Technical Analysis – NYSE-VZ & CBOT

The DOW Lost Nearly 500 Points While Afternoon Trading Session,
Before Closing Tuesday`s Trading Day With A Little More Over 300 Points.
US WallStreet Can`t Hardly Wait For The Forthcoming FED Press Conference
– Otherwise I Can Not Explain Competent Today`s Price Action On Tuesday.

The Frst Low Of This Year 2022, From 02/24/2022 At 32.167 Points, Is Something Of A Landmark, If You Will

Because since then it has marked something like a support zone as well as a resistance zone. And very important: last Monday, September the 12th 2022, a bullish green daily candle was traded. The day before the published US inflation data. Before it went down by 1,286 points on the following Tuesday. So that, also due to the past three trading days (Wednesday, Thursday, and or also Friday), a bearish trend-reversal-formation was formed in retrospect. Which is generally rather negative. Because to leave this trend reversal formation behind, we CBOT_MINI-YM1! Bullish market guys have to trade with all other financial market participants (buy/sell or do nothing) above 32,789 points again. And that is currently almost 2,000 points.

Reaching the price target of 33,500 points is also made more difficult by the fact that, in the past calendar week, the 100SMA also crossed the 50SMA from the northwest to the southeast. Both moving averages are currently trading more or less around the first low for the year, from 02/24/2022, at 32167 points. The 100SMA at 32,081 below. And or the 50SMA at 32,221 above it. So we can speak of crucial 1% price action war zone, from 32,000 to 32,300 points.

But the first thing to conquer is the Doji daily candle, from 05/20/2022.
And that’s either from the bulls or the bears. Because that day was the last low, with 30,585 points, before the annual low of 2022, on 06/17/2022, with 29,639 points. The daily high, from 05/20/2022, with 31,548 points, and/or the daily low, with 30,585 points, plays a supporting role for the upcoming week. Since many day traders who open and close their positions within 24 hours will need to reorient themselves both above (bullish) and below (bearish).

This Week Will Be Dominated By Interest Rate Decisions By The Major Central Banks Including The Federal Reserve, Bank of England, And/Or Bank Of Japan

Also, the focus will be on inflation rates for Japan and Canada, Ifo Business Climate for Germany, and housing data in the US. Finally, investors will be awaiting flash services and manufacturing PMI figures for the United States, for the United Kingdom, for the Euro Area (where i`m living), for France, for my homeland Germany, for Australia and/or for Japan.US WallStreet Closes Lower As Tightening Worries Persist

The Dow lost almost 300 points on Tuesday, and the S&P 500 and Nasdaq dropped 1.1% and 0.8%, respectively, as tightening financial conditions and growth concerns have been a mounting headwind for equities. The Federal Reserve will almost certainly hike the key interest rate by 75 bps, with money markets now pricing a 16% chance of a jumbo, 100 bps increase. On the corporate side, Ford tumbled over 10% after warning that supply chain issues would cost the company an additional $1 billion in the third quarter. Meanwhile, Treasury yields continued to march higher to hit fresh multi-year highs, putting further pressure on technology and other growth-related stocks.

By The Way, Italian Shares Underperform – Ahead Of Elections On Weekend
What Could Kick The EURUSD To New Lows Next Week – Even After Elections Results On Weekend

The FTSE MIB index closed 1.7% lower at 21,760 on Tuesday, falling more than its European counterparts as investors continued to assess the darkening outlook of global growth and inflation ahead of a series of rate hikes projected by major central banks this week. The Federal Reserve, Bank of England, and neighboring Swiss National Bank are expected to tighten policy after the the Swedish Riksbank surprised markets and hiked its key rate by 100bps. Lenders were among the sharpest losers in Milan, led by a near 6% drop for Banca Generali following news that it cost EUR 46 million to settle their transfer pricing dispute with Italian tax authorities. Finecobank and Banca Mediolanum fell more than 5% each, amid the extended decline of BTP instruments. Italian credit risk is seen higher to start the week ahead of snap elections to take place on Sunday, with latest polls pointing to a wide victory by the right-wing coalition.