The Market Brief
U.S. stock futures were cautiously higher in early trading on Wednesday, after the S&P 500 ended a seven-day winning streak, while the government shutdown entered its second week.
Impact Snapshot
🟥 FOMC Meeting Minutes - 2:00pm
🟧 10-y Bond Auction - 1:01pm
Macro Viewpoint
U.S. stock index futures edged up on Wednesday following losses in the previous session, as investors looked ahead to remarks from Federal Reserve officials and the upcoming release of the minutes from the Fed’s September policy meeting.
With a potential government shutdown delaying important economic reports and earnings season on the horizon, traders are carefully watching for any hints about the direction of growth, inflation, and interest rates.
🔄 Prior Session Re-cap
It doesn’t matter if you believe in patterns or technical analysis. If enough people are looking at the same thing, it automatically becomes a self-fulfilling prophecy.
Your beliefs will not stop technical traders from pressing market SELL to trigger a breakdown from an ascending channel.
The video below shows our exact context, all our references, and how we’ve built a framework to anticipate what was to come hours before the fact.
When you’re looking at momentum, you’re seeing just one dimension of the market. When you add context to that momentum, you gain the advantage of viewing the market in a 3D formation.
Chart patterns, for example, are based on the study of human psychology, which tends not to change. Witness the emotions at play as the session breaks a pattern everyone is watching.
It’s not just about what you do during the session. Understanding context can give you far greater positioning in the market.
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Develop better context and create a robust entry model by understanding all the market nuances we share on a daily basis. This will help you build the market understanding that most traders lack.