FOMC & BULLISH MOMENTUM | TECHNICAL ANALYSIS OF THE MARKET | 22-26 MAY 23 #shorts #stockmarket
0Greetings, traders! We've had a bullish week, and this momentum will continue into next week, which is filled with important economic events. On Monday, 22nd, Fed President James Bullard will give a speech. On Wednesday, the 24th, we have the release of the FOMC minutes, followed by GDP and jobless claims on Thursday, and the PMI index on Friday.
In terms of technical analysis, NQ has broken out of its resistance zone, surpassing 13750. With its current strength, it may reach 14000 to 14244. However, if it faces rejection at 13750, it could fall back to 13554
Bullish strength is not as evident on ES, as it is slowly grinding higher. Similar to NQ, it broke out of its resistance zone at 4179. The next target for ES should be 4282 if everything goes according to plan; otherwise, it may slide back down to 4179.
The dollar is also showing strength, surpassing 103.00. I anticipate it moving sideways for now, but its direction may become clearer after the FOMC meeting.
That's all for this video. Please like, share, and subscribe to the channel. Thank you for watching, and I'll see you in the next video.
Share this video with a friend: https://youtube.com/shorts/esMzxGfmsSI
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.