The start of a new month and the same inflation and rate rise narrative is holding the market down. Oil rallied hard and the fell over which kept a lid on the US indexes while US Bond yields and the USD rallied ahead of key Employment Data Friday. The major Indexes are bouncing off lows but are extended….many into resistance zones so I feel that caution is the key in the near term.
For a more detailed Macro technical view and major market trend analysis…check out the video below for my market review and key technical levels for general market bias.
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