THE EVENING SESSION
WEDNESDAY 25TH OCTOBER 2023
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UK100 PREVIEW
Summary
Really have no strong bias here. Probably more downside than upside looking at first session closes compared to current pricing of +5pts, but not a great deal of confidence.
SPX PREVIEW
Summary
As mentioned this morning, AUS CPI has historically been largely bullish in recent history. The few times we have received a bit of a shock to the system, the SPX has taken notice. Historically a reliable place to place stops on any shorts found just above day open.
J Powell speech unusually late, in the last 30 minutes of futures trade tomorrow morning. Unsure if this will have any impact on markets tonight (potentially a drifting night awaiting his speech on light volume?), however historically has also been largely bearish when day futures drift lower.
Slight downward bias considering all available data in my opinion, however nothing to scream ‘Buy’ or ‘Sell’ at this stage, unfortunately.
Remember, this information can form part of your trading edge, but is useless without discipline.
Stay Sharp, Stay Profitable.
Cheers Marto