I can feel the super optimism from the NYSE market since friday.
yes the powerful volume showed from the market and the last candle and weekly made it would go back to upside from now on.
But we need to gear up the pessimistic view again.
corporations earning seasons are coming soon, and mostly they will bring the worst momentum and results.
last week's Friday job's income report was optimistic, but this can be changed with CPI data on thursday morning.
also the FED chairman Powell's speech you need to be aware on tuesday morning.
I personally belive that the short term early year bullish effect has finished now.
yes the powerful volume showed from the market and the last candle and weekly made it would go back to upside from now on.
But we need to gear up the pessimistic view again.
corporations earning seasons are coming soon, and mostly they will bring the worst momentum and results.
last week's Friday job's income report was optimistic, but this can be changed with CPI data on thursday morning.
also the FED chairman Powell's speech you need to be aware on tuesday morning.
I personally belive that the short term early year bullish effect has finished now.
Note
weekly target to 24000 and check out my spx analysis below also.good luck traders :)
Note
this year will be worst for Dow than Nasdaq and s&P 500.2022 was strong year for DOW but 2023 will be the worst year for DOW because of earnings.
We expected tech stocks earning. so our expectation is low. but people expect more from dow stocks. so if the earning is weak. then it will fall strongly.
Note
Be patientNote
cpi data we must watch firstNote
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.