The stock market’s nightmare may be far from over – WE BELIEVE is just the beginning of the meltdown.
After a nail-biting week with the Dow Jones Industrial Average sinking nearly 1,400 points over two sessions, the jury is still out on whether the selloff signals a fundamental shift in the stock market or a brief episodic correction. But one thing is certain: Investors should brace for more market drama in the coming days as corporate earnings, rising interest rates and economic data all converge to create an angst-ridden trading backdrop. Read More @ https://www.marketwatch.com/story/the-stock-markets-nightmare-may-be-far-from-over-2018-10-12?siteid=rss&rss=1
Yellen says Fed is being ‘thoroughly sensible’ and not crazy, as Trump says
- “The Fed is certainly not crazy in terms of what it’s doing,” former Federal Reserve Chair Yellen says, according to the WSJ.
- Yellen led the Fed for four years before Jerome Powell took over.
- Trump continued his attack on the Fed’s monetary policy this week. Read More @ https://www.cnbc.com/2018/10/12/yellen-says-fed-is-being-thoroughly-sensible-and-not-crazy-like-trump-says.html
Global stocks rebound but S&P 500 posts biggest weekly loss since March
Stock markets worldwide rebounded on Friday after a multi-day sell-off but still registered their biggest weekly losses in months, while U.S. Treasury yields rose and the dollar held its gains. Read more @ https://www.reuters.com/article/us-global-markets/global-stocks-rebound-but-sp-500-posts-biggest-weekly-loss-since-march-idUSKCN1MM01O?feedType=RSS&feedName=businessNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+reuters%2FbusinessNews+%28Business+News%29
WHAT IS THE USD SAYING?
USD struggles but FED & IMF Support of further rate hike and tightening of easy money. This makes the market nervous which is at all times Overbought and Over-Valued. We should see more correction soon – Join our WEBINAR for FREE Tomorrow Sunday 14th October at 6.00pm – 7.00pm @ https://attendee.gotowebinar.com/register/7124883021072903437
MONDAY NEWS THAT MIGHT AFFECT YOUR TECHNICAL TRADES
- 1230pm – Japan will release their Revised Industrial Production – we are expecting to be good.
- 8.30pm – US will release their Retails sales, Core Retail Sales, Empire state Manufacturing Index – we are expecting good data but USD should stay rangebound till Thursday for the FOMC minutes.
- 10.30pm – Canada will release their BOC Business survey – It’s a leading indicator of economic health – businesses react quickly to market conditions, and changes in their sentiment can be an early signal of future economic activity such as spending, hiring, and investment. We are expecting a dovish survey. We stay cautious with CAD.
This week the market will be swing and rangebound as the market awaits FOMC Minutes and what’s FED’s next move. Join us on more information and technical analysis and our views – Register for FREE @ https://attendee.gotowebinar.com/register/7124883021072903437
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