February 20, 2023

Eye of the Storm Podcast – Big Picture Update – SPX, NDX, Treasuries, Gold & Silver +$DXY

This weeks podcast starts with a harder look at the various moves within the treasuries, USD, and equities.  While the focus remains on the FED Funds rate and where traders are headed.  Talk is the market is moving towards 5% to 5.25%.  Which could spell harsher times ahead in terms of the equity markets playing catch up to the downside.  I update the big picture in the SPX, and NDX and include labeling that shows the Intermediate B wave as complete.  While as I state in the podcast, I can’t say with 100% certainty that the SPX and NDX won’t attempt highs above 4200 in the SPX and 13,000 in the NDX.  I’m not looking for that strength right now, but I need to continue to contend with the potential.  I update Fibonacci extensions for the expected “C” waves.

I update and discuss the current positions for the treasuries, with the bond markets reaching support levels that would be consistent with a turn high in bond prices as the markets finish an Intermediate B wave countertrend move.

Gold and Silver continued to decline, but I did update the labeling for Gold.

The $DXY remains in a small rally phase – I update the Fibonacci retracements and where the dollar is within the move.