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PROCESS IS KEY….DEFINE LEVELS – MARK EXPECTED PRICE ACTION – TRADE THE SETUPS
OVERNIGHT MARKET SNAPSHOT FOR FRIDAY 17/03/23
Share markets rally as the ECB raises rates by 50 basis points which points to rate rises to come from the US Fed Reserve. The Banking turmoil continues with major US banks dumping $30 billion into First Republic Bank while Credit Suisse was saved, for now, by borrowing $54 Billion from Swiss National Bank. This was all taken as good news from share market investors who happily added risk and provided support with Tech shares leading the charge. Bond Yields and the USD may be telling a different story as inflation and rate rises remain the focus.
Asian markets will open stronger with the ASX200 expected up 15 points, HSI up 140 points and the Nikkei up 320 points on open.
I remain of the view that sticky inflation is the big issue and will weigh on share markets if the Fed, and other major central banks like the RBA, ECB and BOE, can not get it under control.
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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