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10 Minutes Weekly Picture: Bitcoin Slipping Further Towards $17,500, Fed’s Powell to Deliver Hawkish Warnings to Congress , Trading Ideas: $DQ (20th June 2022 – 24th June 2022)
By Jeff Sun Trading  •  June 20, 2022
U.S. markets will be closed on Monday for Juneteenth. Federal Reserve Chair Jerome Powell will be in the spotlight again this week when he testifies before Congress as the market will try to gauge the size of the expected rate hike at the Fed’s upcoming July meeting. Meanwhile, equity market volatility looks set to continue along with the rout in cryptos. Here’s what you need to know to start your week.   1. Stock market volatility Each of the three major Wall Street indexes fell for the third week in a row last week hit by fears over the growing likelihood of a recession as the Fed and other global central banks try to stamp out inflation. The S&P 500 slipped -5.8%, whole both Dow Jones and Nasdaq lost -4.8% each. This is the largest weekly decline since March 2020 for S&P 500, and biggest drop since...
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By Jeff Sun Trading
Jeff Sun is a independent trader, an accredited investor (Securities and Futures Act, Singapore), and an avid private/public equity real estate, and specialist builder engineering firms investor, with Certified Financial Technician (CFTe) accreditation by the International Federation of Technical Analyst; and graduand of (with distinction) Institute of Trading and Portfolio Management.
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