Charles Green here, Senior Market Analyst here at Traders Agency.
Here’s today Market Pulse 360.
Market Pulse 360 for October 25, 2023
The Nasdaq has moved back above 13,000 which serves as major support and is a key psychological level. It has also formed a reverse head and shoulder pattern, which is very bullish.
Moreover, the 10-year Treasury yield retreated from 5% down to 4.85%, which provided some relief in the market and allowed the Nasdaq to move back above 13,000.
However, we are still in a trading range between Nasdaq 13,000 and 14,000. But as long as the Nasdaq can hold 13,000 we’re in good shape, especially considering everything but the kitchen sink being thrown at the market in the past several months.
I am encouraged to see the markets and the economy have both held up very well under a great deal of pressure from the Fed’s “higher for longer” interest rate policy, extremely strong employment numbers, and robust retail sales.
When we get beyond the current trading range, there will be nothing to hold the market back and, I believe we will race to all-time highs.
High Treasury yields, the Fed’s “higher for longer” interest rate policy, quantitative tightening, and recession fears will allo go in the rearview mirror.
We are still in a bull market, just taking a pause while the market sorts out some near-term challenges.
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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.
- 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.
Senior Market Analyst, Traders Agency