Drawdown for the next month or two into the uptrend
Drawdown for the next month or two into the uptrend while market figures out economy of 3rd qtr.
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NDX has gained momentum to fall into the .786 FIB line here, could go sideways for a couple weeks and stay in this upward channel. Better prices for buyers imo
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high 2yr yields with respect to the assumption that the fed starts cutting rates in the first two quarters of 24'. Earnings coming in October with strong economic data since july (pmi, manufacturing index, retail sales, etc.) along with big spending holiday seasons coming. Equities might be sideways or in a wedge til then and break out for a santa rally toward the end of the year towards 17k.
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IDK how to add updated charts to this thread, see continuation for new additions
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this chart still looks pretty good
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25bp drop in the two year over the past few days and people are still seeing cuts in the first quarter of 24'. the only thing stopping this bull run past 17k would be strong recessionary pressures, but will the fed be able to stimulate the economy again?
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closed at all time highs today
