Elliott Wave Live: Stock Moves Into Resistance Amid Moody’s Downgrade and Hawkish Fed
Nov 13, 2023


Hey traders,

The stock market concluded the week on a high note, leading to gains in European markets as well. This positive sentiment may be attributed to the anticipated discussions between the U.S. and China. However, the stock market’s potential for further growth might be limited due to Moody’s decision to revise the U.S. government credit rating from stable to negative, which could affect investor confidence.

In addition, the past couple of weeks have seen volatile shifts in the market’s expectations of the Federal Reserve’s monetary policy, alternating between dovish and hawkish stances. Notably, Fed Chair Powell emphasized the need for more measures to combat inflation. Consequently, the dollar may continue its upward trend. Interestingly, stocks have remained bullish despite the downgrade by Moody’s and Powell’s hawkish stance.

Looking ahead, if Powell maintains a hawkish outlook, the dollar is likely to perform well. Therefore, monitoring U.S. yields, which have recently stabilized, is crucial. Any further rise in these yields could bolster the dollar, potentially leading to a pullback in the stock market at the same time.

In this webinar I will give you a free update on plenty of markets. If you will love the video, make sure to leave us a commentary and smash that LIKE button, please. Thx for watching!

Best regards,

Key Economic Data:
US CPI (3.3% y/y from 3.7% )
US PPI and US retail sales
AUD Employment
UK retail sales

Coverage in webinar:
DXY (dollar index)
US Notes (bullish if 5 up) 5 down on US yields
German – US yields differential
AUDUSD 2 4h counts

Commodity Markets:
Crude Oil + Energy sector
GOLD+ GDX (miners)

Stock Markets:
S&P 500

Cryptocurrency Markets:
Bitcoin (BTC)
Ethereum (ETH)

Singe stocks:
Apple (AAPL)
Amazon (AMZN)
Netflix (NFLX)
Tesla (TSLA)

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