2022/10/20 (093) Technical Analysis – NYSE-CVX & CBOT_MINI-YM1!

Don`t Lose Your Nerves In These Historically Volatile Times…
If At All, Always Trade With Concrete Entry And/Or Exit Prices, In These Days
– And Stick To It – So That Our Upcoming Wins/Losses Are Only A Matter Of Time!


Loss Again On US WallStreet Today, Due To A More Expensiv Yield Curve

The further rising bond yields slowed down the temporarily significant price recovery on the US stock market on Thursday. The leading index Dow Jones Industrial turned negative and finally lost 0.30 percent to 30,333.59 points. The broader S&P 500 was ultimately down 0.80 percent to 3665.78 points and the tech-heavy Nasdaq 100 fell 0.51 percent to 11,046.71 points. The indices thus continued the weak development of the previous day after they had picked up significantly on Monday and Tuesday.

Wall Street initially reacted positively on Thursday to mixed US economic data and the resignation of British Prime Minister Liz Truss. Over time, however, the continued rise in yields on US government bonds proved to be a burden. The much-noticed return on paper with a term of ten years recently climbed to 4.24 percent. It thus moved even further up from the four percent mark after it had already been quoted on Wednesday at the level it was at the time of the financial crisis in 2008. “The round mark, which many had interpreted as a signal for an impending trend reversal in both market interest rates and the monetary policy tightening course of the central banks, was therefore only a pause in the ongoing upward trend,” commented capital market strategist Jürgen Molnar from broker Robomarkets.

Mixed domestic economic data at least gave no additional fuel to fears of further significant US interest rate hikes in the fight against inflation. While weekly initial jobless claims fell by surprise and existing home sales fell more moderately than expected, business sentiment in the US-area Philadelphia improved less than expected. In addition, the index of leading indicators fell more significantly than forecast. Investors also focused on some quarterly reports. Despite high inflation and global economic concerns, the electric car maker Tesla increased its quarterly profit sharply. However, the proceeds remained below market expectations. The shares dropped by more than six and a half percent, bringing up the rear in the Nasdaq 100. At American Airlines, after the price rally of the past few days, even optimistic expectations for the future were not enough for further gains: the shares lost 3.8 percent. In view of customers’ desire to travel, the airline expects the vigorous recovery to continue in the final quarter. The company is thus following the competition, which, despite general concerns about consumer purchasing behavior in times of high inflation, also expects continued good demand for travel. In contrast, the papers of the computer veteran IBM were the Dow leader with a plus of 4.7 percent. Third-quarter sales and operating profit exceeded analysts’ expectations. In addition, IBM raised the sales forecast for the year. The shares of the telecom giant AT&T even increased by 7.7 percent. The company raised earnings guidance after better-than-expected customer growth in the third quarter. Meanwhile, shares in Philip Morris and its competitor Altria fell 1.7 and 2.5 percent, respectively. Tobacco maker Philip Morris increased its bid for competitor Swedish Match from 106 to 116 SEK per share in cash. The offer for the manufacturer of smoke-free products should not be further increased. The takeover is intended to expand activities outside of the classic tobacco business, which is why an agreement was concluded with the US tobacco company Altria for the US rights to its IQOS tobacco heating system for 2.7 billion dollars before taxes. Philip Morris’ quarterly results were eclipsed by this news.

US Dollar Momentum Weakens

The dollar index weakened below the 113 mark on Thursday as investors paused to reassess the potential economic impact of the Federal Reserve’s tightening campaign to tame stubbornly high inflation. Markets are currently priced for another 75 basis point rate hike in November, with a chorus of hawkish statements from US policymakers hinting at an even higher peak for rates despite looming signs that the US economy is slowing down. This dollar’s weakness was seen across the board, but some of the most pronounced selling activity was against commodity-linked currencies such as the Australian and New Zealand dollars. Meanwhile, earlier this session, the dollar traded at its highest level against the Japanese yen in more than 30 years.

The Fight For 30,000 Points In Rhe Dow Jones Stock Market, The Holding Of The 110 Points In The USD Index,
And Or The Meanwhile 4% In The 10year US Yields – That’s Seems What Determines The Price Action At The Moment! Or?

It goes back and forth in the US stock market. The numbers are not great – and in the historical context, there are no reasons to enter the stock market in the medium term, let alone in the long term! However, as short-term speculative trader, as like in our 4XSetUps Trading Capability very much so, it`s a great trading market! Because in the last few weeks and months, apart from during the lockdown, due to the corona virus outbreak, has the mood regarding US Wall Street been worse? I don’t think so – but it’s not about the mood in New York, but rather about the emotional bullish/bearish reaction of the market participants, i.e. all of us who deal (in)directly with WallStreet. And our future expectations. And that all in an economic environment of the highest stagflation since the end of theCold War, they are as bad as they have been for 40 years (the 1980s, to be precise). That´s why stay cautious about the US stock market! And only get in and out with a concrete competente long tactic, concrete competente short tactic, and/or concrete competente short/long tactic – in these historically very volatile price action times…

US Equities Give Up Gains on Hawkish Fed Statements

Wall Street pared early morning gains Thursday, with the Dow Jones erasing a 300-point gain to trade below 30,400 and the S&P 500 and Nasdaq dropping 0.8% and 0.6%, respectively. Persistent worries about inflation and fears that the Federal Reserve would need to stay aggressive sapped the optimism from recent earnings reports. According to Philadelphia Fed President Patrick Harker, the US central bank will likely raise interest rates to “well above” 4% this year and then hold them at such restrictive levels to bring down inflations to its 2% target. Keeping bullish sentiment alive was, so far, upbeat results from corporate America. AT&T rose over 7% and IBM over 4% after earnings from both companies beat forecasts. On the other hand, Tesla dropped more than 6% after the electric vehicle maker missed Wall Street’s sales estimate and cut its vehicle-delivery target.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 09/23/2022 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!