Market Report Oct 04 2022

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Market Report for Oct 04 2022

S&P 500 and Nasdaq Daily Charts

Any shorts yesterday would have been clearly offside in the market momentum that kicked off a strong start to the week and October after a dismal but expected September. We prepared for this and it was discussed in this weeks webinar.

A broad-based rally and confirmed with our internals saw a positive day across the board. However, a one-day rally is not enough to confirm a bull trend so we need to remain cautious.

The UK government abandoned part of its fiscal plan which seemed to provide some more relief for the currency and UK bond market.

And concerns about Credit Suisse’s financial condition may still have a knock-on effect so we should be prepared for any escalation in that situation.

Let’s go trade!