$SPX - What's next?

30 nov 2022

SPX - What's next?

Important data coming out this week out of US as well as Powell tonight it would be a surprise if he's dovish I'd personally like a pull back in US indices and to get back in long, this principle is validated with metals as well, let's not forget NFP...

As the market is forward looking, we have seen DXY decline as rates will be declining in the future as the recession heads further, the data is establishing weaker in certain areas. However, technically we are at a key area, do we pull back or do we extend further to the downside. AUD as china may open may benefit AUD - Keep a key eye as well as confluence of Indices and precious metals.

The key pairs I am looking into going overall:

DXY
EUR
YEN
AUD
XAU
SPX
DAX

Looking for pull backs to go back into the trend at suitable levels matching my trade plan! Medium term positioning.

All the best,

Trade Journal