Key Levels and US Market Review for the Asian session open 24/04

Major Indexes edged higher Friday into the weekend with both Europe and the US posting minor gains. The US had economic data out that came in stronger than expected and sent US Bond Yields higher to add further fuel to the interest rate rise narrative. Share market traders have been in a holding pattern awaiting a big week of earnings this week in the US as some big tech names will release results and guidance. Expect that the tug of war between good and bad economic and earnings data will continue to see tough markets this week.

Longer term, I still feel that share markets are looking heavy and expect to see some risk off moves or at least the market to cap bullish moves. I either expect sticky inflation or expectations for a recession to weigh on markets.

I remain of the view that sticky inflation is the big issue but it remains a balancing act for the Fed. Traders are continuing to anticipate the end to the rate rising cycle and may be wrong again. If the Fed stops too soon, then shares will rally and put pressure back on inflation.

Some KEY ACTIONABLE LEVELS into the Asian market session. Review of the European and US sessions and what that will mean to the price action in the near term along with key levels to watch.

Markets covered :-
DOW
Nasdaq
DAX
FTSE
ASX200
Hang Seng
USD Index
Gold
Oil
Copper