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PROCESS IS KEY….DEFINE LEVELS – MARK EXPECTED PRICE ACTION – TRADE THE SETUPS
OVERNIGHT MARKET SNAPSHOT FOR TUESDAY 1/08/23
US and European markets saw a relatively tame session to end the month. Major indexes remain buoyant and edge higher even as the USD gains and US Bond yields hold around long term highs. While traders focus on the end of a global interest rate rising cycle, share markets remain risk on. For me, the technical view remains positive for now with focus today on the RBA rate statement today in our local market and then it will shift to the US Key employment data at the end of the week.
Expecting a stronger open in Asia with the ASX200 to open up 25 pts, the Nikkei to open flat and Hang Seng to open up 210 pts.
Traders will be keeping an eye on coming employment data and rate Statements from the RBA today and BOE later in the week, for an updated outlook for Global interest rates and inflation.
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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