2022/09/29 (080) Technical Analysis – NYSE-MRK & CBOT

Unfortunately, My Fears Came True, On Last Friday
– Our Long 4XSetUp Trading Capability Was Stopped Out.
So That We Are Now Short In The CBOT_MINI-YM1!
With A New Short 4XSetUp Trading Capability.

London Is Calling Back Again – Like Former ECB President Mario Draghi, In July 2022:
„Whatever It Takes“ May Not Be Pronounced – But The SameGoal Is Behind! Don`t You Remember?

The Bank of England issued a statement on Wednesday, surprising to me at least, that it will temporarily buy long-dated UK bonds from yesterday (September 28, 2022) until October 14, 2022. The inflation in the UK and/or of the more and more expensive GBP yield curve was more or less too fast and/or too high for the Bank of England. And/Or apparently unspoken too much for the new conservative government, in London. That´s why i guess, that the Bank of England is taking countermeasures. In a published letter, the central bank said “purchases will be made to the extent necessary to achieve the desired outcome.” So we can assume that the pressure is out of the GBP yield curve for the time being. Due to future interest rate increases and/or persistent inflation, an increased GBP yield curve is still to be expected – but not to this rapid/high extent. And that’s the key point; Willy-nilly. Which is perhaps why the Bank of England also stated that “the MPC will not hesitate to change interest rates by as much as is necessary to bring inflation back to 2%!” This is a key move by the BoE as the bank announced at a meeting last week that it would begin active bond selling in October 2022. These active sales have now been postponed to October 31, 2022. The reason for this move is of course the rise in UK yields triggered by the announcement of new fiscal measures in the UK. Which is why the Bank of England indirectly and tacitly wanted to make it clear to every interested securities trader who was and/or is the largest market maker in the City of London.

In the short term, equity indices rose and the GBP appreciated while the USD weakened against the major G10 currencies.
However, movements in the currency markets were mostly reversed within minutes, while the indices were able to hold their gains. The UK 10year yield tumbled to 4.0% from 4.5% after the BOE said will carry out temporary purchases of long-dated government bonds from 28th Sep`22 in order to restore orderly market conditions. Also, the central bank postponed the start of its gilt sale programme, due to begin next week, because of the market conditions. The 10-year note topped 4.5% for the first time since Nov`08, as panic selling intensified after the government announced sweeping tax cuts last Friday. This week, Kwasi Kwarteng showed optimism in its economic strategy, saying he remains committed to bringing debt under control and reiterated that his £45 bn of tax cuts would boost growth. Meanwhile, BoE Huw Pill suggested the central bank may hike rates significantly at the next policy meeting in response to finance minister Kwasi Kwarteng’s huge tax cuts. He added the central bank should wait until the scheduled November meeting to act, in line with the BoE statement on Monday.Very Important Price Action Areas
For The Next Days, Weeks And/Or Months

34246 Target Price @ 4XSetUp

34246 08/16/2022 False-Break-Out high > 200SMA

33444 08/26/2022 False-Break-Out high > 20SMA
33031 01/24/2022 1st New Low this year 2022

32789 09/13/2022 False-Break-Out high > 20SMA
32789 09/13/2022 False-Break-Out high > 100SMA
32593 08/16/2022 20SMA/100SMA bottom to top
32167 02/24/2022 2nd New Low this year 2022
32097 09/16/2022 20SMA/100SMA top to bottom

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 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!US Futures Ease After Wednesday’s Rally
US stock futures eased on Thursday after the major averages rallied sharply in the last regular session, as markets rebounded from oversold conditions and looked to snap weeks of losses. Dow and S&P 500 futures each shed about 0.1%, while Nasdaq 100 futures lost 0.2%. In regular trading on Wednesday, the Dow climbed 1.88%, the S&P 500 jumped 1.97% and the tech-heavy Nasdaq Composite rallied 2.05%, with all three benchmarks eking out small gains for the week thus far. Those moves came as the Bank of England said it would purchase bonds in a bid to stabilize its financial markets, sending global bond yields lower which in turn supported a broad risk rally. All S&P sectors advanced, led by energy, communication services and consumer discretionary. Investors now look ahead to initial jobless claims data and more speeches from Federal Reserve officials, as well as earnings reports from Nike and Micron Technology, among others.

29.733 Point On Thursday Morning (Central European Time)
After yesterday’s monster rally, as manifested in the daily candlestick, many buyers could follow. But watch out: “High pride always comes before a deep fall!”. And that`s why stay kosher and don`t trade this price action without any entry/exit before. No matter where you put them…