[Week 49 - 2022] Trades Recap and Trade Setups

Hey Traders,

Market experienced euphoria after Powell delivered his speech on Wednesday session, indicating the likelihood in slowing of rates as fast as December. Expectation for December rate hike now stands strong at 50 basis point instead of the potential 75.

Markets now rests at key technical level with the S&P500 and Gold at resistance level and the Dollar Index at key support level. A breakout confirmation of one of these assets can spur the next direction for risk on or off and may provide exogenous signal.

The PPI and the University of Michigan Consumer Sentiment will be the main highlight for next week.