2022/10/13 (088) Technical Analysis – NASDAQ-HON & CBOT_MINI-YM1!

Long/Short Switch 4XSetUp Trading Capability Costs Us Nerves,
Excuse Me If I`m Getting On Your Nerves With This, As A Reader Emailed Me!
But I Don`t know How Else To Help These Das And/Or Weeks On US WallStreet…


Monster Moves On WallStreet Today Back Again

The Dow, which had fallen by almost two percent at the start of trading, increasingly recovered over the course of the day. At the close of the market, the best-known Wall Street index finally rose by 2.83 percent to 30,038.72 points. The S&P 500, which at times marked a new low since November 2020 and tested the 3500 point mark, rose 2.6 percent to 3669.91 points. The technology index Nasdaq 100 gained 2.3 percent to 11,033.58 points. It had at times fallen for the seventh straight day, plunging to its lowest level since July 2020.

Consumer prices in the USA sent the US stock exchanges on a pronounced roller coaster ride on Thursday. After initially heavy losses, things finally went up steeply. The Dow Jones Industrial closed above the 30,000 point mark again. Hopes have spread on the stock markets that the sell-off waves that started this year may have bottomed out, traders said.

US inflation data for September had shown that while high inflation is trending down, it is only slightly. Consumer prices rose by 8.2 percent compared to the same month of the previous year, which is a little more than expected. In August, however, the inflation rate was still 8.3 percent.

According to the inflation data, it is clear that the US Federal Reserve will raise its key interest rate a fourth time by 0.75 percent at the beginning of November, as portfolio manager Thomas Altmann from QC Partners said. But the data also had a positive side. “The annual rate has fallen for the third month in a row,” said Altmann. At least the direction is right, even if the path is much flatter than hoped. And Thomas Gitzel, economist at VP Bank, said: “The outlook for further inflationary developments certainly allows the conclusion that most of the Fed’s work is done.” Among the individual stocks, bank stocks in particular rose again because they are the beneficiaries of rising interest rates. JPMorgan gained 5.6 percent in the Dow and Morgan Stanley, Citigroup and Wells Fargo rose between 3.6 percent and 5.2 percent in the S&P 100. All these financial institutions also publish their quarterly balance sheets on Friday. In the US leading index, Walgreens shares also rose significantly by 5.4 percent. The pharmacy chain’s fourth quarter wasn’t quite as bad as expected. The group also surprised positively for the new financial year, even if it expects a decline in profits.

It`s An Hell Of Market For Us Bulls On WallStreet This Year 2002 – No Doubt About It!

That`s why, in any case, consistently consider the technical marks in the Dow Jones Future. And above all, implement it consistently. Even if it may only cost us

Very Important Price Action Areas
For The Next Days, Weeks And/Or Months

34246 Target Price @ 4XSetUp


33031 01/24/2022 1st New Low this year 2022

32167 02/24/2022 2nd New Low this year 2022

31148 05/12/2022 3rd New Low this year 2022

30585 entry @ long 4XSetUp
if short 4XSetUp get stopped out

30585 05/20/2022 4th New Low this year 2022

30000 Stop Price @ 4XSetUp

29669 09/23/2022 last price @ friday closed

29639 06/21/2022 5th New Low this year 2022

29639 10/07/2022 Entry Price @ 4XSetUp

24675 Target Price @ 4XSetUp

Basically
i’m a constructive realistically optimistic wall street bull.
But, if i am not wrong, the us wallstreet sentiment is still far too positive in relative terms; because the economic data and/or much more worldwide political framework conditions are worse than they have been since the cold war.
So stay kosher – & trade only with entry/exits!only transaction costs, these days and/or weeks – before a new old bullish or new old bearish trend develops again. Don`t loose your nerve about price actions!

US Inflation Rate Above Forecasts

The annual inflation rate in the US slowed for the third month running to 8.2% in September of 2022, the lowest in seven months, compared to 8.3% in August but above market forecasts of 8.1%. The energy index increased 19.8%, below 23.8% in August, due to gasoline (18.2% vs 25.6%), fuel oil (58.1% vs 68.8%) and electricity (15.5% vs 15.8% which was the highest since 1981). A small slowdown was also seen in the cost of food (11.2% vs 11.4% which was the highest since 1979) and used cars and trucks (7.2% vs 7.8%). On the other hand, prices for shelter increased faster (6.6% vs 6.2%). Meanwhile, the core rate which excludes volatile food and energy, rose to 6.6%, the highest since August of 1982, and above market expectations of 6.5% in a sign inflationary pressures remain elevated.

DXY Rallies After CPI Report

The dollar index skyrocketed above 113.8 on Thursday, approaching again its highest levels in 20 years on a hotter-than-expected CPI report. US inflation eased less than expected in September to 8.2%, and underlying prices excluding energy and food prices accelerated to a new four-decade high. The dollar continued to benefit from robust safe-haven demand as well, as the US economy remained resilient in the face of slowing global growth and heightened geopolitical tensions.

US 10-Year Treasury Yield Hits 4%

The yield on the 10-year Treasury note soared past the 4% mark, the highest in over 14 years as investors digested the hotter than expected CPI print and its impact on the Federal Reserve’s guidance. Consumer prices in the US rose by 8.2% annually in September, above expectations of 8.1%, while the core reading also surpassed expectations. The figures added to the Fed’s recent rhetoric that borrowing costs must rise quickly to curb unsustainable price growth, even if it hurts growth and employment. Minutes from the latest Fed policy meeting signaled that policymakers were committed to pushing rates to a restrictive level until there are clear signs that inflation is easing. Still, officials noted that at some point, slowing the pace of tightening would be appropriate while assessing the effects of cumulative policy adjustments.

Overall, Nothing Has Changed In My Expectations As Far As US WallStreet Is Concerned
– Wait Until 30000 Price Zone Is Conquered By The Bulls And/Or Bears And Enter Accordingly

The Dow gained over 800 points recovering from an over 500-point drop earlier in the session, while the S&P 500 and Nasdaq rose 2.4% and 2.2%, respectively, as dip technical buyers emerged after an inflation-driven selloff took S&P 500 to a two-year low. US inflation eased less than expected in September, while the core gouge, excluding energy and food prices, accelerated to a new four-decade high. Short-covering and put-options moving into the money and profits being booked are two potential suspects for the technical rebound. The gains were led by energy shares as crude oil gained over 2%. Banks also gained substantially after JP Morgan reported better-than-expected earnings. Delta Air Lines jumped over 4% after the company shared strong guidance for the last quarter of 2022 amid expectations that travel demand will remain robust despite growing global macro headwinds.