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Instrument: US30+
Technical Analysis
Bullish Preference:
A Buy position is envisaged if the price trades above 32978 with take profit at 33032
Bearish Preference:
A Sell position is envisaged if the price trades below 32897 with take profit at 32833
Fundamentals:
4PM USD: CB Consumer Confidence
Comment:
U.S. stock index futures slipped on Tuesday as Treasury yields rose to near multi-month highs on increased chances of more interest rate hikes due to elevated inflation and a strong domestic economy. Wall Street on Monday found some reprieve from the heavy selloff last week that had pushed the major benchmarks to their biggest weekly percentage declines of the year.The gains, however, were not enough to reverse monthly losses for the three main indexes, with the blue-chip Dow DJI in the red for the year after strong economic data suggested the Federal Reserve could keep interest rates higher for longer. Traders are beginning to price in the possibility of a bigger 50 basis-point rate hike in March, although the odds remain low at about 23%, according to Fed fund futures, which also suggest rates peaking at 5.4% by September, up from 4.57% now.
Analysis: SCRUM Team
