Hey friend,
Charles Green here, Senior Market Analyst here at Traders Agency.
Here’s today Market Pulse 360.
Market Pulse 360 for March 27, 2023
The banking saga may be coming to an end with First Citizens Bank buying $72 billion of Silicon Valley Bank’s loans and deposits.
Futures are up slightly, and this is a good start to the week. However, we are approaching resistance at 12,000 on NASDAQ, but we formed a reverse head-and-shoulder last week, bouncing off major support at 11,000 on NASDAQ, which is very bullish (see chart below).
Here are a couple things to note on this week’s economic calendar:
- Tuesday 10:00 AM – Consumer Confidence
- Friday 8:30 AM – Personal Consumption Expenditures
These reports can impact the market, especially the PCE (the Fed’s favorite inflation indicator).
I believe we will test 12,000 resistance this week and the market is likely to set this level as the new support.
I think the market grinds higher, albeit with a lot of volatility until there is more certainty with a Fed pause in interest rate increases.
But since the biggest issue overhanging the market (bank stability) is diminishing, this will help the market grind higher.
Recommended Strategy
Alpha Stocks – As you know, the market-leading stocks are always ahead of the market. Meaning as the market grinds higher, you want to be positioned in these stocks to capture the most profits possible.
Ross Givens will show you exactly how tomorrow at 12 p.m. Eastern. So make sure you click this link to save your spot for Ross’ live session tomorrow. Especially because this is likely the last time Ross will share this strategy for months.
A Bit More About Me
My specialty is understanding financial markets and the drivers that influence longer-term direction. I’ve been an active trader focusing primarily on stocks for over 20 years.
I’ve also:
- Been an adjunct finance professor for nearly 20 years
- Worked as a financial consultant with Merrill Lynch managing millions of dollars
- Earned a Master of Science Degree in International Business and Finance from Georgetown University and a Bachelor in Arts Degree in International Studies from George Mason University.
- Spent 14 years as a Marine (I enlisted at age 17) traveling all around the world
My education, work and life experience gives me a broad view of the world, financial markets, and life in general that informs my trading and investment decisions.
My passion is helping others to take advantage of the best market opportunities to achieve their financial goals.
This gives me the greatest satisfaction, and it’s the reason why I continue to teach in the classroom and outside of it today with every activity in which I engage. I believe that I succeed only if clients succeed.
I am a very unlikely success story. And this is only because I believe that anything is possible with the right knowledge, focus, and winning mentality! When you have that, success is just a matter of time.
Charles Green
Senior Market Analyst, Traders Agency
