October Close - 2023 - Outlook on S&P
October has come to a close bearish on the monthly. On the daily we just covered the Volume Imbalance and may reach into the FVG above, but I believe the down side continues.
We have equal lows waiting to be raided below with more air below that.
Rates decision will come in tomorrow November 1st, 2023.
I wonder if the market will react Hawkish amid war outbreak and general state of economics; Even if there was a pause. A cut would lead to an amplified disaster long term while a hike would enhance the market correction. All the Fed should and probably will do is pause rates. Leave the disruption to the war and pin the blame there while the market corrects.
We are living in a truly remarkable state of the markets. A once in a lifetime opportunity to position for the rebirth of finance as we know it.
I am bearish right now and remain confident that any upside is fuel to an even worse downside. November will be interesting.
God speed everyone, have a good November.
We have equal lows waiting to be raided below with more air below that.
Rates decision will come in tomorrow November 1st, 2023.
I wonder if the market will react Hawkish amid war outbreak and general state of economics; Even if there was a pause. A cut would lead to an amplified disaster long term while a hike would enhance the market correction. All the Fed should and probably will do is pause rates. Leave the disruption to the war and pin the blame there while the market corrects.
We are living in a truly remarkable state of the markets. A once in a lifetime opportunity to position for the rebirth of finance as we know it.
I am bearish right now and remain confident that any upside is fuel to an even worse downside. November will be interesting.
God speed everyone, have a good November.
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