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June 10, 2023 | Tech Talk for Saturday June 10th 2023

Donald Vialoux is author of the free blog Tech Talk, a daily investment report available during the past 20 years at Comments focus on the seasonal and technical outlook for equity indices, commodities and sectors. Mr. Vialoux has 53 years of experience in the investment industry and is a past president of the Canadian Society of Technical Analysts (CSTA).

The Bottom Line: Watching for responses to bad news!

Investors are confronted with a series of bad news events this week: 

  •  News from the FOMC meeting on Wednesday. Members of the Committee hinted that they will “stand pat” with the current Fed Fund Rate at 5.00%-5.25% in anticipation of more “data points” (including the May Consumer Price Index on Tuesday and the May Producer Price index Wednesday). Consensus calls for a 0.25% increase in the Fed Fund Rate to 5.25%-5.50% at the next meeting on July 25th/July 26th. Responses to the report by individual FOMC members and by analysts on Wednesday will provide short term guidance for traders

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June 10th, 2023

Posted In: Tech Talk

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