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PROCESS IS KEY….DEFINE LEVELS – MARK EXPECTED PRICE ACTION – TRADE THE SETUPS
OVERNIGHT MARKET SNAPSHOT FOR FRIDAY 3/03/23
Markets started on the weak side before bulls stepped in to provide support both in Europe and the US. The USD was also bid up while US bonds edged higher as traders were happy to take some risk off (on the short side) ahead of the US employment data release. To me, the USD move and the Bond market move are not saying the same thing as the share markets in regards to inflation expectations, but rather points to a general unwind of short risk into major indexes. The US open will be interesting and I expect to see some volatility after the employment release. Markets in Asia, Europe and US remain bias down for now but searching for a base….we will see how investors react to the data release ahead of the US open.
Major Indexes are remain trending down potentially with more selling to come in the medium term while short term could see some support from bargain hunters.
Some KEY ACTIONABLE LEVELS into the Asian market session. Review of the European and US sessions and what that will mean to the price action in the near term along with key levels to watch.
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KEY LEVELS AND MARKET OVERVIEW INTO THE ASIAN SESSION OPEN
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