Market On Open, Friday 22 August

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Now Is The Moment

by Alex King, CEO, Cestrian Capital Research, Inc

Chairman Powell speaks at Jackson Hole today and will opine on many things, not least the likely path of rates as he sees it. Since Mr. Powell is on the way out of his role, and since everybody knows this, any market reaction cannot possibly be a function of what Mr. Powell says. Other people will be driving Fed policy in the very near future. So whatever the market does after his speech, it must have been going to do anyway, but talking heads will be able to pin the reaction upon hawkish or dovish utterances within the Powell Main Event.

As always we rely on the charts.

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Now let’s get to work. Here’s our daily subscriber-only take on the US equity indices, volatility, bonds, oil, crypto, and key sector moves.