{"id":18264,"date":"2023-02-01T13:30:30","date_gmt":"2023-02-01T21:30:30","guid":{"rendered":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/?p=18264"},"modified":"2023-02-01T13:30:30","modified_gmt":"2023-02-01T21:30:30","slug":"markets-post-fomc-02-02-2023-trading-levels","status":"publish","type":"post","link":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/markets-post-fomc-02-02-2023-trading-levels\/","title":{"rendered":"Markets Post FOMC + 02.02.2023 Trading Levels"},"content":{"rendered":"
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Get Real Time updates and more on our private FB group!<\/span><\/div>\n
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https:\/\/business.facebook.com\/groups\/1105191589938254\/<\/a><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

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What to Expect the Last Two Trading Days of the Week<\/h3>\n

By Mark O’Brien, Senior Broker<\/p>\n

General:\u00a0albeit the eighth straight interest rate hike by the Federal Reserve since last March, today\u2019s 25-basis point increase was the smallest move of the streak \u2013 with its target range now set to 4.5 \u2013 4.75 percent.\u00a0In its policy statement, Central Bank officials signaled that while \u201cinflation has eased somewhat,\u201d the fight against inflation has not come to an end and that the Fed \u201cwill stay the course until the job is done.\u201d\u00a0Translation: more hikes are on the way.<\/p>\n

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Yesterday, the International Monetary Fund raised its 2023 global growth outlook slightly, from their last projected contraction to 2.9% form 2022, to a slightly less discouraging 2.7%.\u00a0They pointed to “surprisingly resilient” demand in the United States and Europe, an easing of energy costs and the reopening of China’s economy after Beijing abandoned its strict COVID-19 restrictions.<\/p>\n

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Tomorrow the European Central Bank will meet to determine their own next move in that region\u2019s battle against inflation.\u00a0They\u2019re almost certain to notch rates up another 50 basis points up to 2.5 percent on their deposit facility, as it\u2019s termed.\u00a0And similar to the attention paid to Fed chair Jerome Powell\u2019s words, all ears will be honed in on ECB President Christine Lagarde\u2019s communications on the central bank\u2019s guidance and future decisions.<\/p>\n

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All this is taking place amidst the backdrop of slight improvements in U.S. and Chinese economic expectations.\u00a0One could make the case that the green shoots indicating signs of improvement for the economy mentioned in the Jan. 18 blog\u00a0at the very least haven\u2019t withered.<\/p>\n

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And speaking of not withering, while the outlook for the South American soybean crop<\/a> remains a concern, traders have started removing the weather premium from prices.<\/p>\n

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This could contribute to an asset-wide decline in volatility and leave markets prone to trending \u2013 up or down.<\/p>\n

A Cannon broker<\/a>\u00a0will be able to assist, provide feedback and answer any questions.<\/p>\n

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Chart below is provided by QT Market Center,\u00a0A swiss army knife charting package that’s not just for Hedgers, Cooperatives and Farmers alike but also for Spread traders, Swing traders and shorter time frame application for intraday traders with a unique proprietary indicator that can be applied to your specific trading needs.<\/p>\n

FREE TRIAL AVAILABLE<\/a><\/p>\n

PriceCounts – Not about where we’ve been , but where we might be going next!<\/p>\n

March mini SP 500<\/a> possible PriceCounts Scenario below<\/p>\n

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The PriceCount study is a tool that can help to project the distance of a move in price. The counts are not intended to be an \u2018exact\u2019 science but rather offer a target area for the four objectives which are based off the first leg of a move with each subsequent count having a smaller percentage of being achieved. It is normal for the chart to react by correcting or consolidating at an objective and then either resuming its move or reversing trend. Best utilized in conjunction with other technical tools, PriceCounts offer one more way to analyze charts and help to manage your positions and risk. Learn more at\u00a0www.qtchartoftheday.com<\/a><\/p>\n

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Trading in futures, options, securities, derivatives or OTC products entails significant risks which must be understood prior to trading and may not be appropriate for all investors. Past performance of actual trades or strategies is not necessarily indicative of future results.<\/p>\n

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Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors.\u00a0 You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time when it comes to Futures Trading.<\/p>\n

Futures Trading Levels<\/strong><\/h3>\n

for 02-02-2023<\/p>\n

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\"#ES,
#ES, #NQ, #YM, #RTY, #XBT, #GC, #SI, #CL, #ZB, #6E, #ZC, #ZW, #ZS, #ZM, #NG<\/figcaption><\/figure>\n

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Economic Reports, Source:\u00a0<\/strong><\/h3>\n

Forexfactory.com<\/a><\/p>\n

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This is not a solicitation of any order to buy or sell, but a current market view provided by\u00a0Cannon Trading Inc<\/a>. Any statement of facts\u00a0here in\u00a0contained are derived from sources believed to be\u00a0reliable,\u00a0but are not guaranteed as to\u00a0accuracy, nor they purport to be complete. No responsibility is assumed with respect to any such statement or with respect to any expression of opinion herein contained. Readers are urged to exercise their own\u00a0judgement\u00a0in trading.<\/p>\n","protected":false},"excerpt":{"rendered":"

Get Real Time updates and more on our private FB group! https:\/\/business.facebook.com\/groups\/1105191589938254\/     What to Expect the Last Two Trading Days of the Week By Mark O’Brien, Senior Broker General:\u00a0albeit the eighth straight interest rate hike by the Federal Reserve since last March, today\u2019s 25-basis point increase was the smallest move of the streak […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[230,239,67,30,235,344,1378],"tags":[1481,1480,1475,1471,1469,1467,1468,1474,1472,1477,1478,1476,1479,1470,1473,1172,1239,40,627,1277,36],"class_list":["post-18264","post","type-post","status-publish","format-standard","hentry","category-day-trading-2","category-financial-futures","category-future-trading-news","category-futures-broker-2","category-index-futures","category-indices","category-sp-500","tag-cbot","tag-comex","tag-commoditiesmarket","tag-commoditiestrader","tag-commoditytrading","tag-crudeoil","tag-daytrader","tag-futuresmarket","tag-futurestrader","tag-kcbt","tag-mgex","tag-nymex","tag-smfe","tag-stockindices","tag-swingtrader","tag-cme","tag-commodities","tag-daytrading","tag-futures","tag-globex","tag-gold"],"_links":{"self":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/18264","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/comments?post=18264"}],"version-history":[{"count":1,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/18264\/revisions"}],"predecessor-version":[{"id":18265,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/18264\/revisions\/18265"}],"wp:attachment":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/media?parent=18264"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/categories?post=18264"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/tags?post=18264"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}