Weekly Blog September 16, 2022

This week too, I have not placed any trades. I put more emphasis on understanding the economic pressures and their reactions in the markets this week. It’ll assist me in upcoming trades next time we receive any inflation data. Inflation data remained high this week, although steadying out.

September 13, proved to be a very harsh day on the markets with the S&P down 4% and the NASDAQ down 5%. Both due to worsening inflation data. The S&P crossed down its daily S5 pivot level. This is an extremely rare occurrence as the markets close at the S2 level 80% of the times. Even reaching S3 is rare.

I look forward to opening positions next week with the Fed Interest Rate decision on September 21.