Instrument: US100
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 11074.13 with take profit at 11737.15
Bearish Preference:
Sell position is envisaged if price trades below 11609.48 with take profit at 11556.16
Fundamentals:
9:45am USD FlasH Manufacturing PMI
USD Flash Services PMI
3:00pm USD Fed Chair Powell Testifies
Comment:
A booming corner of the $6.2 trillion ETF market is sending ominous signals about the path ahead for US stocks. Usually, fixed income would outperform in a slowing economy, acting to counterweight falling equities. But the prospect of ever-tighter policy, inflation that keeps rising in spite of it, and a looming recession are crushing both stocks and bonds.
Analysis: SCRUM Team