Market On Open - Monday 18 March

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Witches To The Left Of Us, Powell To The Right

by Alex King

Well, triple witching came and went. That means that today we will see the tail-end of re-hedging flows; and then tomorrow and Wednesday we will see the pre-positioning for FOMC, the initial market reaction to the Powell press conference thereafter, and then the real market reaction to whatever Powell says ie. what the market was going to do anyway.

For now we can just check in on our usual charts, where we walk through the S&P500, the Dow, the Russell 2000, the Nasdaq-100, and then a clutch of specialist ETFs, being SOXX / SOXL (semiconductor), FNGU (tech majors) and TECL (also tech majors).

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Short- And Medium-Term Market Analysis