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Wednesday, March 22, 2023

Market Update Wed. March, 22nd, 2023 - 3/22/2023 - ahead of the FOMC Announcement

Looking back at yesterday's market action: 

The market went exactly where we expected, and below is the chart I prepared, and blogged, just ahead of yesterday's opening bell, to prove it.  

$SPX Before

$SPX After - nearly rallies to key resistance. 

Not to brag; it's just that if I don't point out how often I'm right, nobody would believe it. 
To be honest it can be rather difficult predicting markets, but I'm the living proof, it can be done. 

In fact, I started to document how many big moves I've called correctly over the past 3 years, but I'll save that for the book. 

Another thing to mention about yesterday's market action, is that several major indices broke out above the 200 day moving average.  

Yesterday's Sector Rotation 

Certain sectors rallied harder than others, including financials. While defensive sectors, like Utilities, and Gold, were mostly lower. 

RE: Bank Crisis/ Collapse 

There's no doubt in my mind; financial collapse is coming, but this just looks like a dress rehearsal. 

REITs (Real Estate Investment Trusts)

One thing I learned during the financial collapse of '08, is that one sector that will collapse with the banking sector, is real-estate, so that's something to watch closely. I'm seeing an interesting setup there, if you're looking for a trade; $99 gets you all the charts you need to trade it for the next 30 days. There's a Paypal link in the side menu. I can also provide traders with commodities charts, and even FX, but that's going to cost you $299 per month. 

This morning - while most pf the #FinTwit Apes are looking at GameStop up over 30% - we're also seeing Vornado Realty Trust ($VNO). well off the recent lows, and this after a nearly 5% gain for the week. That doesn't point to a regional bank collapse; it actually points to risk having been already priced in. 

Today's FOMC Announcement

 I suspect The Fed banksters are going to do another hike, in order to further tighten liquidity, and they may as well use inflation as an excuse.... 

 You see a lot of pontificators on gloomberg, and elsewhere, trying to predict what the Fed is going to do, but you don't have to predict what's going to happen today, in order to profit off it.

Today's FOMC announcement is going to offer clarity, and the market likes clarity. However, if you see the $VIX spiking on the news, then you would want to "sell the news".

I could give you tons of tips on how to read the market, but I gotta save something for the book. 

If you're new to this, be sure to checkout: 

The Best Call Of The Year - Excellent Trading Environment Continues

Take Care, 


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