March Bottoms & Fear Tops
We correctly predicted that gold would show its typical post-FOMC announcement intraday declines before staging a robust advance (like it did on Nov 3rd and Dec 15th). We also remained bullish NZDUSD, while re-affirming longs in SPX. We kept USDJPY longs as a partial hedge.
Back to the indices. Earlier today I tweeted that 2009 generational low in equities occurred on March 6th and the Covid-crisis low took part on 23rd March 2020. This year's Ukraine-Russia low is 8th March 2022. Sounds similar? Yes, but even if markets rally 7% from here, I still expect fresh pullback near (not necessarily to) the March lows. Do not be surprised if US500 reaches 4460s before end of week.
Just to clarify things, our WhatsApp Broadcast Group is a Broadcast Group, this means members remain not visible to each other (you cannot see who else is on the Group and obviously cannot be contacted by anyone). Members can communicate with the Broadcaster (Ashraf) just like any other 1-1 chat. If I deem a question or comment to me as valuable to the Group, then I could copy and paste it to the Group along with my answer (as I did in the snapshot above) without revealing the identity of the person asking the question. Again, this is not a chat room or your mates' WhatsApp group. More details here.
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