[platinum insights] What to expect this week!

Stock market futures are flat to up slightly this morning along with oil. 

Apple is up slightly in premarket with news that the number of covid cases in China is easing.  

Today’s economic reports include the Case-Schiller U.S. home price index and the consumer confidence index. 

There are no scheduled speeches by FED presidents today, however Jay Powell, Lisa Cook and Michelle Bowman will speak tomorrow which we expect to hear more hawkish talk about the need for continued rate hikes. Friday will bring us the employment report so volatility will be the name of the game as the market searches for direction.  

Yesterday’s market price action decline eliminated many possible swing trading set-ups, however these price action movements are necessary for developing future set-ups and require patience. Swing trading is about hitting singles and doubles and preserving gains. 

Today we will continue to watch price action in the S&P to see if price action closes above the 9-day SMA or continues its path toward the 20-day SMA. Have a Great Day!  This information is for educational purposes and is not a recommendation to buy or sell a security.