PLEASE NOTE that the chart shows a short level at 2921 (from yesterday), but it is updated to 2918 (the text of the trading plans show the correct level of 2918 but the chart does not; not sure how to change the level on the chart once published, hence this note)
Powell in Hole, Esther on Accommodation, Yields in Inversion...
Fed Chair Powell's speech at Jackson Hole tomorrow is going to be watched very keenly and parsed feverishly, and can set the tone of the trading for the next week. Kansas' Fed Esther's comments that July rate cut was "not necessary" could be setting the tone for Powell's speech? May be, may be not - but, the FOMC meeting minutes released yesterday coupled with her comments today could have some on the markets worried.
Add to the above the inversion in the yield curve, and we have a potential storm brewing. The unwinding of it all could jolt the markets out of the range they have been stuck in for the last few weeks. Read below for our models' trading plans for the day (mostly unchanged from yesterday's). Good luck with your trading and/or trading education!
#ES #ESMINI #SP500 #SPX #SPY #Fed #China #Yuan #Yields #Rates #Tariffs #Tradewar #recession #FOMC
NOTES - HOW TO INTERPRET/USE THESE TRADING PLANS:
(i) The trading levels identified are derived from our A.I. Powered Quant Models. Depending on the market conditions, these may or may not correspond to any specific indicator(s).
(ii) The results of these indicated trades would vary widely depending on the timeframe you use (1 minute, or 5 minute, or 15 minute or 60 minute etc), the quality of your broker's execution, any slippages, your trading commissions and many other factors.
( iii ) These are NOT trading recommendations for any individual(s) and may or may not be suitable to your own financial objectives and risk tolerance - USE these ONLY as educational tools to inform and educate your own trading decisions, at your own risk.
Not sure how to change it on the chart after already published - hence, this note. Ignore the 2921 level on the chart and interpret it as 2918.
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