Charts of the Day: Call it Dovish

by Marty Mazorra CFP®, ChFC® Founder & Co-Chief Investment Officer

Recall from Monday’s note:

Nasdaq 100 Non-Commercial Traders Net Futures Positioning:


I.e., the bears are still sticking their necks out there — risking getting their heads handed to them if indeed the Fed delivers a dovish message… I.e., that “huge short-covering if they come in dovish,” will serve to add a not-small upside boost to stocks in that scenario… 

Here’s today’s Nasdaq 100 1-minute chart… The red X marks 5 minutes into Powell’s press conference:


Yep, call it a dovish message, and, yep, call it yet another short-covering rally.


Share:

Recieve Between the Lines Posts to your Inbox

Sign up for lorem ipsum delores sin.

We care about the protection of your data. Read our Privacy Policy.
Facebook Instagram
  • Private Wealth Advisors
  • © 2024 Private Wealth Advisors. All rights reserved.
  • PRIVACY POLICY

This website is a publication of Private Wealth Advisors. Information presented is believed to be factual and up-to-date, but we do not guarantee its accuracy and it should not be regarded as a complete analysis of the subjects discussed. All expressions of opinion reflect the judgment of the author as of the date of publication and are subject to change. Information on this website does not involve the rendering of personalized investment advice, but is limited to the dissemination of general information on products and services. A professional advisor should be consulted before implementing any of the options presented. Information on this website is not an offer to buy or sell, or a solicitation of any offer to buy or sell the securities mentioned herein. Hyperlinks on this website are provided as a convenience and we disclaim any responsibility for information, services or products found on websites linked hereto. Private Wealth Advisors is registered as an investment adviser with the SEC, and only transacts business in states where it is properly registered, or is excluded or exempted from registration requirements. SEC registration does not constitute an endorsement of the firm by the Commission nor does it indicate that the adviser has attained a particular level of skill or ability.