Short
US30 - SHORT ENTRY
U.S. retail spending and manufacturing weakened in November, signs of a slowing economy as the Federal Reserve continues its battle against high inflation. November retail sales fell 0.6% from the prior month for the biggest decline this year, the Commerce Department said Thursday. Budget-conscious shoppers pulled back sharply on holiday-related purchases, home projects and autos. Manufacturing output declined 0.6%, the first drop since June, the Fed said in a separate report.
The Fed on Wednesday raised its benchmark interest rate 0.5 percentage point to a 15-year high and signaled plans to continue lifting rates through the spring. Fed officials have increased rates at the fastest pace since the 1980s to cool the economy and bring down inflation, which is running near a 40-year high. The economy has shown signs of slowing, and inflation has eased from a summer peak, but the labor market remains tight despite layoffs in sectors such as tech and real estate. Jobless claims, a proxy for layoffs, fell by 20,000 to a seasonally adjusted 211,000 last week, the Labor Department said Thursday. Claims are up from lows this spring, but remain at levels that suggest many employers are holding tight to workers.
With that being said, the Dow Jones have a massive drop yesterday and fundamentally wise, we can expect a further decline towards the next prominent key order block.
Our sell orders are as such:
SELL BY ENTRY
R:R - 1:4
E/P: 33181.56
S/L: 33284.41
T/P: 32823.89
The Fed on Wednesday raised its benchmark interest rate 0.5 percentage point to a 15-year high and signaled plans to continue lifting rates through the spring. Fed officials have increased rates at the fastest pace since the 1980s to cool the economy and bring down inflation, which is running near a 40-year high. The economy has shown signs of slowing, and inflation has eased from a summer peak, but the labor market remains tight despite layoffs in sectors such as tech and real estate. Jobless claims, a proxy for layoffs, fell by 20,000 to a seasonally adjusted 211,000 last week, the Labor Department said Thursday. Claims are up from lows this spring, but remain at levels that suggest many employers are holding tight to workers.
With that being said, the Dow Jones have a massive drop yesterday and fundamentally wise, we can expect a further decline towards the next prominent key order block.
Our sell orders are as such:
SELL BY ENTRY
R:R - 1:4
E/P: 33181.56
S/L: 33284.41
T/P: 32823.89
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Trade closed: target reached
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