PROCESS IS KEY….DEFINE LEVELS – MARK EXPECTED PRICE ACTION – TRADE THE SETUPS
OVERNIGHT MARKET SNAPSHOT FOR TUESDAY 21/03/23
Share markets bounce back ahead of FOMC after news that UBS will buy Credit Suisse. The rescue news was taken as a positive as bargain hunters supported lows and sent Europe higher with the bullishness flowing over into the US market open. Expecting the market to be supported into FOMC and the Feds outlook on inflation and interest rates. This meeting will be interesting as the recent banking issues led many to believe the Fed will not raise rates and potentially even cuts rates soon.
Asian markets will open stronger with the ASX200 expected up 45 points, HSI up 170 points and the Nikkei up 180 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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