Mark your calendars. Expect high market volatility leading up to and on these dates:

  • Wednesday, November 2, 2022: FOMC Meeting
  • Friday, November 4, 2022: October Unemployment Data
  • Tuesday, November 8, 2022: Midterm Elections
  • Thursday November 10, 2022: October CPI
  • Friday, December 2, 2022: November Unemployment Data
  • Tuesday, December 13, 2022: November CPI
  • Wednesday, December 14, 2022: FOMC Meeting

Equities

S&P 500 / $SPY

  • S&P Futures are up, pre-market trading is up.
  • We could see a bear market rally within the next 2 weeks leading up to FOMC on November 2.
  • The chart above is still in play.
    • Investors likely priced in expected Fed rates (75 top 100 basis points) at the last CPI print

Commodities / Copper

Global X Copper Miners ETF / $COPX

  • A massive Double Bottom Pattern with a clear retest of the neckline.
  • This technical usually results in an uptrend equal to the % dropped.
  • Commodities are usually played in months or years – The retest of the neckline here could be a good entry point for a long term hold.
  • Be weary of a Double Top formation as well that we could see on the right end of the chart – there’s always the possibility price could drop lower, especially if global markets crash

Crypto

Bitcoin / $BTC

  • Bitcoin has been desperately trying to break out of the downtrend resistance line
  • We’ve seen a fakeout before, we could see it again
    • If Bitcoin continues to follow equities, price could move to a similar bear market rally above the red trend line and then dip below the ~$17.6k low

Altcoins

Cosmos / $ATOM

  • Two weeks ago, we reviewed Cosmos / $ATOM using a Fib Retracement
  • The Fib levels indicated a clear support range which was tested again. Prices remain to hold above this range.
  • RSI is on the oversold half of the band – if the market rallies, there’s a likelihood price will move up to the next Fib level (~$13 to $14 range)

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Author: The Rebel Economist

Civil Engineer // Aviator // Photographer // Avid Coffee Enthusiast // Your investment strategies could differ from mine based on your risk tolerances, research, and time horizon, so I encourage you to do your own research as information provided by The Rebel Economist or Breaking Metrics should never be considered financial advice.

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