Bullflag was validated out of NYSE close monday into europe with a break from the descending channel after 6 or 7 taps.
An uptrend has been forming into NYSE open. There are a few events later in the week that I expect may rattle the market:
Consumer confidence today was on expectation
GDP/Unemployment - probably has little effect now even if off expectations.
Jpow talk thursday - not sure what he will say. He might rally the markets to save his job. But he's messing with the inflation fight any time he does this. I think they will fail to tame inflation, and will tolerate higher inflation, especially with the gov't debt levels. Looks like the Fed is being politicized behind the scenes potentially, but you will never know for sure.
PCE - friday is a holiday but pce is released thursday. If PCE is hot, it'll potentially invalidate the recent rally. People are not fearful tho, you can see in the TradingView chat everyone is "only up" while insider selling is very high.
An uptrend has been forming into NYSE open. There are a few events later in the week that I expect may rattle the market:
Consumer confidence today was on expectation
GDP/Unemployment - probably has little effect now even if off expectations.
Jpow talk thursday - not sure what he will say. He might rally the markets to save his job. But he's messing with the inflation fight any time he does this. I think they will fail to tame inflation, and will tolerate higher inflation, especially with the gov't debt levels. Looks like the Fed is being politicized behind the scenes potentially, but you will never know for sure.
PCE - friday is a holiday but pce is released thursday. If PCE is hot, it'll potentially invalidate the recent rally. People are not fearful tho, you can see in the TradingView chat everyone is "only up" while insider selling is very high.