Market Report for Sep 29 2022
A rally on Wednesday after a new low this year was printed for the S&P 500 the day before. Yesterday saw a buck of the six consecutive losing days as it approached the weekly 200 moving average.
BoE set the theme for the day after they said they would postpone the sale of gilts that were due to begin next week. Instead, started to immediately buy UK government bonds temporarily, running up until October 14 2022. As a result, the USD fell sharply, so it is just as well we took our profits in the morning part of the session.
All but one of our stocks ended the day positively. We will still be looking to buy more after having trimmed our positions to cater for the September slump but for now we are sitting back and watching the response of the market.
Let’s go trade!