Chances of pullback according to classic TA is high due to main drop has shifted bulls out of market balance. But lets see FED's decision first. I see tensions there because Jerome said FED is more likely to raise interest rates before collapse of SVB . Now tightening policy might cause a chain reaction with debt pressure to other banks.
In the other hand they must intervene to beat inflation now, so it's not a problem in the nearest future because elections are closing up. Stakes are actually very high, because increasing interest rates might cause drop in world oil prices to punish some oil exporting countries which went completely off the rails and norms of international order.
Markets are nervous right now waiting for FED's decision, so do I. Especially when it comes to dealing with a such ticker during current venerable condition of banking sector.
Upcoming CPI report figures will make FED's next move a little more predictable.
Golden proportions:
Derived angle:
In the other hand they must intervene to beat inflation now, so it's not a problem in the nearest future because elections are closing up. Stakes are actually very high, because increasing interest rates might cause drop in world oil prices to punish some oil exporting countries which went completely off the rails and norms of international order.
Markets are nervous right now waiting for FED's decision, so do I. Especially when it comes to dealing with a such ticker during current venerable condition of banking sector.
Upcoming CPI report figures will make FED's next move a little more predictable.
Golden proportions: