Pristine Market Analysis & Watchlist 11/1
The Fed's Mission is Complete!
Team,
Market conditions are slowly but surely improving. HAGE🍻
-Andrew
News/Economic Data
As expected via the analysis in last night’s research note, the fed held rates steady!
The short version of Powell’s speech:
We expect inflation to fall and believe we have done enough on the interest rate front, but we reserve the right to hike rates in the future if things don’t go according to plan and inflation doesn’t fall as we expect.
The market is pricing in only a 22.4% probability of a hike at the December Fed meeting. For all intents and purposes, this rate hiking cycle…is over! 👇
Long-Term Treasuries
The Bill Ackman bottom is holding, and TLT is testing the 20-day SMA! Bullish 👇
FX Market
DXY tried to auction higher but failed ✔️
Energy
Just a month ago, crude oil was knocking on the door of $100/barrel. It is now trading at $80.91. Deflationary? ✔️
Equity Dashboard
The Magnificent 7 rallied hard, but overall breadth was only 58.3%
Index Price Cycle Monitor
Still a fair amount of red, but index trends are improving! 👇
In the following sections of tonight’s update, I’ll cover my research in preparation for tomorrow’s trading session
✅ Trend Model Update - Our proprietary indicator that informs us on how aggressive/defensive to position in the market
✅Market Strategy - My trading plan
✅ Today’s Trade Blotter and Position Update
✅Daily Watchlist - We scan thousands of stocks and hand-pick the best reward/risk opportunities
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