has finally kicked off a new cycle by cutting its overnight rate by 50 bps and delivering an even more dovish dot plot than expected. The Fed removed much of the guesswork this time, clearly signaling they are cutting rates to the neutral level around 3%.could increase slightly from here. This could explain the unexpected rise in the 10-year rate; another factor could be positioning in the market, as always, it will take a day or so to figure that out.created a 2B top.
If Nvidia can’t move higher, then the semis can’t move higher, and neither can the S&P 500 nor the NASDAQ 100.will break above the 1.36 level, as it continues to be an excellent tool for spotting S&P 500 tops and bottoms. If the USD/CAD can weaken past 1.36, I believe it will confirm that we, indeed the S&P 500 is heading lower.
We received margin numbers from FINRA, which showed that margin levels fell in August. This marks the fourth consecutive month without an increase in margin levels, which could explain why the stock market has been stuck.has been cut off as a funding currency, the S&P 500 is tracking a few days behind reserve changes. As a result, we may be approaching a point today where a significant drop could be ready to materialize.
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