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Powell Jackson Hole Hopium Is At Hand, Nvidia Hopium Is Ahead, Carry Trade Risk

Benzinga ·  Aug 23 23:16

To gain an edge, this is what you need to know today.

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Hopium

Please click here for an enlarged chart of S&P 500 ETF (NYSE:SPY) which represents the benchmark stock market index S&P 500 (SPX).

Note the following:

  • The chart shows that after tracing a V bottom on the carry trade unwind, the stock market is in the resistance zone.
  • The RSI pattern shown on the chart is such that the stock market can go either way.
  • Bulls are hopeful that Powell's speech at Jackson Hole today will trigger a breakout in the stock market to a new...
Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
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