On to the Important items which require attention.
The Federal Reserve released a passive Statement published yesterday in a Summary Post below.
What bares attention:
2024 became 2023, which turned into late 2022 and presently it appears one of two events is well underway.
1. November FED Meeting will announce Taper, which is well underway via the US Treasury as well as the FED. The Real ISSUE is - do they begin immediately or announce a later date of implementation - 5 weeks from now, the Bigger Taper will be announced as the FED clearly indicated a far more aggressive taper within 7 Months, concluding in MAY/JUNE 2022.
This, as opposed to the usual 12/13 Month schedule of prior Tapering.
2. Once, the Tapering is done, Interest Rates will begin to be lifted. The topping process for the Indicies will manage to Blow off into Final 5/5 HIghs. For the ES by example - 5000.
Within the next 4 to 5 weeks we should see an aggressive SELL take the Equities Complex into the Lows.
These Objectives remain between the 200-400SMAs. For the ES - 3872.
Grande.