What’s Next for the Market?

[] Waiting for the Fed's Next Move [] [] [] [] Now that we’ve had some time to digest the CPI and PPI reports, the big question is: Has anything really changed? As of this morning, all the S&P Futures has done so far is recover to the 61.8% Fibonacci retracement from the last move down, which started with the big red candle day in September’s first trading session. Now we’re waiting to see what’s next. Since this morning, the /ES futures have pushed up through to the 78.6% level, only to be rejected. It now sits about halfway between those two points just below 5590. Will we see a correction that pushes us back higher, or was that recovery all we’re going to get? Adding to the mix, the European Central Bank (ECB) cut rates this morning. You may have noticed those rate cuts caused gold to push decisively higher above the 234 level it had been bumping its head on since mid-August. This could have some traders wondering whether the Fed will follow suit with rate cuts of their own next week. But for me, the key level to watch is 5570 on the S&P Futures (ES). If we can close above that level — and with an hour left in the trading day as I write this, it looks likely — there’s a good chance the rally will continue. Until then, we’re in a bit of a holding pattern. The Fed’s decision next week is also going to be key in figuring out whether the market has the legs to keep moving higher or if we’re in for more downside. As always, stay sharp, and keep an eye on those key levels. — Geof Smith P.S. If you don’t know the current trends in the oil market… You could be at a serious disadvantage. That’s why [I put together this free class!]( [] [] Now that we’ve had some time to digest the CPI and PPI reports, the big question is: Has anything really changed? As of this morning, all the S&P Futures has done so far is recover to the 61.8% Fibonacci retracement from the last move down, which started with the big red candle day in September’s first trading session. Now we’re waiting to see what’s next. Since this morning, the /ES futures have pushed up through to the 78.6% level, only to be rejected. It now sits about halfway between those two points just below 5590. Will we see a correction that pushes us back higher, or was that recovery all we’re going to get? Adding to the mix, the European Central Bank (ECB) cut rates this morning. You may have noticed those rate cuts caused gold to push decisively higher above the 234 level it had been bumping its head on since mid-August. This could have some traders wondering whether the Fed will follow suit with rate cuts of their own next week. But for me, the key level to watch is 5570 on the S&P Futures (ES). If we can close above that level — and with an hour left in the trading day as I write this, it looks likely — there’s a good chance the rally will continue. Until then, we’re in a bit of a holding pattern. The Fed’s decision next week is also going to be key in figuring out whether the market has the legs to keep moving higher or if we’re in for more downside. As always, stay sharp, and keep an eye on those key levels. — Geof Smith P.S. If you don’t know the current trends in the oil market… You could be at a serious disadvantage. That’s why [I put together this free class!]( [] ABOUT US: We believe that the opportunity for financial literacy and freedom belongs to all people, not just those who already have years of investing experience. Prosperity Pub provides an array of educational services and products that will help you navigate the markets and become a better investor. Trading is made simple through our online forum full of trading techniques to give you the best tools to kick-start your investing journey. We offer collaborative webinars and training; we love to teach. No matter the opportunity, we bring together a strong community of like-minded traders to focus on analyzing market news as it’s presented each day. DISCLAIMER: FOR INFORMATION PURPOSES ONLY. The materials presented from Prosperity Pub are for your informational purposes only. Neither Prosperity Pub nor its employees offer investment, legal or tax advice of any kind, and the analysis displayed with various tools does not constitute investment, legal or tax advice and should not be interpreted as such. Using the data and analysis contained in the materials for reasons other than the informational purposes intended is at the user’s own risk. DISCLAIMER: TRADE AT YOUR OWN RISK; TRADING INVOLVES RISK OF LOSS; SEEK PROFESSIONAL ADVICE. Prosperity Pub is not responsible for any losses that may occur from transactions effected based upon information or analysis contained in the presented. To the extent that you make use of the concepts with the presentation material, you are solely responsible for the applicable trading or investment decision. Trading activity, including options transactions, can involve the risk of loss, so use caution when entering any option transaction. You trade at your own risk, and it is recommended you consult with a financial advisor for investment, legal or tax advice relating to options transactions. Please visit [( for our full Terms and Conditions. [Unsubscribe]( This email was sent to {EMAIL} by Prosperity Pub 101 Marketside Ave, Suite 404 PMB 318, Ponte Vedra, Florida 32081, United States [Prosperity Pub]( [] ABOUT US: We believe that the opportunity for financial literacy and freedom belongs to all people, not just those who already have years of investing experience. Prosperity Pub provides an array of educational services and products that will help you navigate the markets and become a better investor. Trading is made simple through our online forum full of trading techniques to give you the best tools to kick-start your investing journey. We offer collaborative webinars and training; we love to teach. No matter the opportunity, we bring together a strong community of like-minded traders to focus on analyzing market news as it’s presented each day. DISCLAIMER: FOR INFORMATION PURPOSES ONLY. The materials presented from Prosperity Pub are for your informational purposes only. Neither Prosperity Pub nor its employees offer investment, legal or tax advice of any kind, and the analysis displayed with various tools does not constitute investment, legal or tax advice and should not be interpreted as such. Using the data and analysis contained in the materials for reasons other than the informational purposes intended is at the user’s own risk. DISCLAIMER: TRADE AT YOUR OWN RISK; TRADING INVOLVES RISK OF LOSS; SEEK PROFESSIONAL ADVICE. Prosperity Pub is not responsible for any losses that may occur from transactions effected based upon information or analysis contained in the presented. To the extent that you make use of the concepts with the presentation material, you are solely responsible for the applicable trading or investment decision. Trading activity, including options transactions, can involve the risk of loss, so use caution when entering any option transaction. You trade at your own risk, and it is recommended you consult with a financial advisor for investment, legal or tax advice relating to options transactions. Please visit [( for our full Terms and Conditions. [Unsubscribe]( This email was sent to {EMAIL} by Prosperity Pub 101 Marketside Ave, Suite 404 PMB 318, Ponte Vedra, Florida 32081, United States [Prosperity Pub](