Chairman Powell Mysteries, Season 6 Episode 7
The hopes and dreams of bulls and bears come together at Jackson Hole
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The Faltering Recovery Continues
Friday last week saw spike-low and reversals in each of the major equity indices. This is the Nasdaq, for instance:
Oftentimes that kind of reversal can mark a low. It represents the lack of any willing sellers below a given level. Monday closed up, today’s premarket was exuberant only for the open to swoon.
Potholes this week include Chairman Powell's Jackson Hole speech and $NVDA earnings. We expect some volatility around the Powell speech in the usual way but we don't believe it will lead to a sustained market selloff. And we're long-term bullish on Nvidia unless something fundamental changes on the earnings print.
Now let's turn to our market note.
The Heart Of The Matter
For our Premium and Pro members only we now walk through our longer-term outlooks for the S&P500, the Nasdaq, the Dow and the Russell together with Bitcoin and Ether.
As a reminder, if you’d like our more detailed short-term index charts, and you’d like to get Cestrian staff personal account trading plans ahead of time, we provide all that in our Inner Circle service. Learn all about that, here.
For now, let’s get to those market charts.