Big Three Charts in Focus This Week
Coach Mark here.
There are times as a trader and investor where it feels like macro does not matter. To be honest, there are times it does not. Sentiment and momentum reign supreme for times in the market and macro takes a back seat. This is not one of those environments.
The Big Three charts are in focus this week as we leave the largest September OpEx in history in a week where the Fed meets and will release their policy decision. Rising oil, the dollar and yields have all provided some summer time drag on the market as we look to enter the fall season this week. Fall means football, back to school and new routines. Will it bring new trends to these Big Three charts? Time will tell.
What we know is that traders and investors are acutely aware of these uptrends. They are paying close attention. Macro matters as we enter the fall and continuation of these trends means headwinds for markets while a breakage of the short-term uptrends likely will cause a short-term relief rally.
It is an easy equation to call because at least for now, macro matters.
Have a great start to your week and catch us on the Halftime Report today as we break it all down!
Chart of the Day: Crude Oil (/CL)
Macro matters and perhaps no chart in the short-term matters more for markets than crude oil. Rising gas prices put stress on the consumer, rising oil prices put stress on the economy and rising prices do nothing to stop the “inflation is sticky” chatter out there right now.
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