In this Daily Trade Watch report, we look for high probability trade setups that we can trade throughout the day. Today, the consensus is that Powell’s speech is good for US Equities.
Powell’s speech on Wednesday was perceived as being largely dovish by the markets. Therefore, there is a strong expectation that the Fed will continue to increase rates again at the next meeting on 19th, December.
With this in mind, we have identified an opportunity in the US Equities. If we see a break above yesterday’s daily high, this level in the S&P 500 is 2754. The same level in the NASDAQ is 6937. Finally, in the DOW this level is 25,482. We could see some strong continuation to the upside if we get a confirmed break above these levels.
Powell’s Speech Is Good for US Equities – Full Video Analysis
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