There are 3 high impact events in September 2021 Week 4
Expect Powell’s speech on 29 September to carry on the same narrative from Week 3.
I do not expect the Core PCI and PMI to have material impact on the markets
- FOMC have already stated their narrative of bond tapering to tentatively start from November.
- Correction has already started. $SPX is already down 5% . Technically the market has not rebounded yet.
For my readers, do not let your guard down in Week 4. The correction has started and $SPX is still down 5%. Notice the lower highs and lower lows. There is no sign that the correction has recovered yet.
All eyes are also now on the impending debt limit drama coming up which could accelerate further correction from next week