S&P 500 presented the bull trap I talked Wednesday premarket, and FOMC brought another curveball. Powell is truly setting us up for a replay of spring 2019 – satisfaction with inflation fighting progress had been dropped, job market stance also changed, yet hawkish perceptions were talked down during the conference.

S&P 500 though didn‘t reach the 6,035 support area after breaking below low 6,070s – where does that and yields‘ unwillingness to follow in the Fed‘s preferred path leave us? With ECB cutting by 25bp today, we‘re going to see more USD appreciation, and it pays to watch the yen (that it remains within the latest range).

The incoming data of today won‘t rock the boat, and AAPL earnings will help equities higher (AMZN price action won‘t be a disappointment either while META keeps winning) – yesterday‘s earnings were also decent, and financials premarket reporting, did fairly well too.

Treat yourselves to today‘s packed video, and check these charts – what does it say about recession odds and equity risk premium as we‘re seeing some semiconductors revival?

Chart

 

Chart

All essays, research and information represent analyses and opinions of Monica Kingsley that are based on available and latest data. Despite careful research and best efforts, it may prove wrong and be subject to change with or without notice. Monica Kingsley does not guarantee the accuracy or thoroughness of the data or information reported. Her content serves educational purposes and should not be relied upon as advice or construed as providing recommendations of any kind. Futures, stocks and options are financial instruments not suitable for every investor. Please be advised that you invest at your own risk. Monica Kingsley is not a Registered Securities Advisor. By reading her writings, you agree that she will not be held responsible or liable for any decisions you make. Investing, trading and speculating in financial markets may involve high risk of loss. Monica Kingsley may have a short or long position in any securities, including those mentioned in her writings, and may make additional purchases and/or sales of those securities without notice.

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