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Asset Watch
Thursday, December 15, 2022
As interest rates and the U.S. dollar fall while stock prices rise, the developments help spur inflation and undo some of the Fed’s recent progress. Therefore, if Powell plans to throw cold water on the recent rally, it should happen in the next few hours.
While the NASDAQ 100 rose on Dec. 13, an intraday reversal occurred when the index touched its declining resistance line. The NASDAQ 100 closed the session below its 100-day moving average (the blue line), and the key level ended the rally attempts in mid-November and early December. Likewise, the 100-day MA also served as resistance in late March and early April.
Even though a major move may occur on Dec. 14, is it wise to wait until the technical picture is more optimistic?
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