CAN CPI & PPI FLIP THE MARKET| TECHNICAL ANALYSIS OF THE MARKET | 11-15 SEP 23 #shorts #stockmarket
0Hello Traders,
In my recent video, I highlighted the range-bound nature of the current market conditions. This week, two significant economic events, namely the (CPI) on Wednesday and the (PPI) on Thursday, hold the potential to provide some direction amidst this uncertainty. Historical data indicates that September typically ranks as the poorest-performing trading month of the year, and the prevailing price action aligns with this trend.
Now, shifting our focus to the futures market, the Nasdaq (NQ) recently faced rejection from the upper boundary of a megaphone formation, briefly dipping into the golden pocket. This suggests that NQ is likely to continue oscillating within the range of 15,664 to 15,026. Similarly, the S&P 500 (ES) is expected to maintain its range between 4,549 and 4,427.
Lastly, the US Dollar has defied expectations with a strong performance, as it potentially targets the 106 mark. It may encounter mild resistance levels within the range of 105 to 105.86.
Thank you for watching, and I'll see you next week.
Share this video with a friend: https://youtube.com/shorts/t80k6hYDFo4
AFFILIATE LINKS
Trading Tools That I Use:
Brokers:
Tradovate - https://www.tradovate.com/
TD Ameritrade- https://www.tdameritrade.com/
WeBull - https://www.webull.com/
Scanner: TradeIdeas - https://www.trade-ideas.com/
Analysis Tools: TipRanks - https://www.tipranks.com/
Options flow - https://quantdata.us/
Charting Tool: TradingView - https://www.tradingview.com/
Let’s connect:
Twitter – https://twitter.com/TradesLog
Disclaimer - Please be aware that Sid, the author/content creator of the YouTube channel 'Sid's Vlog', is not a licensed financial professional. His discussions, analysis, and predictions are based on his interpretation of technical indicators and patterns, and should not be taken as investment advice.
It is important to understand that investing in the stock market carries inherent risks and uncertainties. The actual performance of a stock, commodity, or currency may differ significantly from the descriptions given. Trading securities and commodities carry a risk of substantial losses.
The content provided on this channel, as well as any subsequent reports, recaps, or articles, is for informational purposes only and should not be interpreted as an offer to buy or sell any securities. The information is based on qualitative, statistical, and financial data analysis and should not be taken as a recommendation for a complete investment evaluation.
The information provided is based on sources believed to be reliable, but no representation is made as to the accuracy, completeness, reliability, or timeliness of the information. The information is subject to change without notice, and Sid's Vlog does not accept responsibility for updating it.
Sid's Vlog and the author of the YouTube channel do not accept responsibility or liability for any direct, indirect, special, consequential, or other losses or damages arising from access to or use of the reports or information contained on the channel.
Investing carries substantial risk. The charts shown in the recap videos are for educational purposes only and should not be taken as investment advice. Any reference to the past or potential performance of an investment should not be taken as a recommendation or guarantee of any specific outcome or profit. It is important to conduct your own due diligence and research before investing or trading.