PROCESS IS KEY….DEFINE LEVELS – MARK EXPECTED PRICE ACTION – TRADE THE SETUPS
OVERNIGHT MARKET SNAPSHOT FOR TUESDAY 16/05/23
European and US markets edge higher to end with minor gains after a solid Asian session to start the week. US bulls are remaining on the sidelines for now as the Government once again argue over raising the debt ceiling. Economic data came out weaker than expected in the US again pointing to a slowing economy which I feel will be longer term negative for the share market but good for the end to the rate rising cycle. All in all, the market is not very enthusiastic as US earnings come to an end.
Expecting a strong open for the Asian session with the ASX to open flat, Hang Seng to open up 250 points and the Nikkei to open up 200 points.
Coming economic data will remain the major focus as traders look to anticipate the end to interest rate rises. I feel that any end will only mean major economies are slowing which I do not expect will be good for the share market…for now, expect more chop.
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.
Join Our TRADERS HUB DISCORD CHANNEL for updates and trade ideas (email email@example.com for the link)
Watch the FULL REVIEW here 👇
Disclaimer: the contents of this post are presented for informational purposes only. They should not be viewed as investment advice, nor a solicitation to buy or sell any financial securities. Investments in financial products are subject to market risk. Some financial products, such as currency exchange, futures, contracts for difference, options and warrants are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. Trading currency exchange, futures, contracts for difference, stocks, shares, options and warrants on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in currency exchange, futures, contracts for difference, options, stocks, shares and warrants you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with currency exchange, futures, contracts for difference, options, stocks, shares and warrants trading, and seek advice from an independent financial advisor if you have any doubts.