No trading charts for Friday, March 3rd

I’ll be back Monday morning with my newsletter. I also won’t be doing any Zoom webcasts today. I’ve been having dizzy spells the past couple days so I need a day away from the markets & screens to see if that helps. Also planning to get some fresh air today which has not happened in a while. I hope everyone has a great day and a nice weekend. See you Monday.

I have no plans to open new positions today because 20 is pretty much my max, I’ll keep current stop losses in place.

Thankfully the 10Y yield is back down to 4.01% this morning after hitting 4.09% yesterday. This market doesn’t want higher yields. There’s also been some comments from FOMC members over the past 24 hours to suggest they realize the rate hikes will be coming to an end soon however their stance is still “higher for longer” or at least until we see CPI under 2% which might not be until early 2024 however the shelter inputs continue to roll over which makes me think late 2023 for CPI at 2-3% is still very possible but that doesn’t mean we should expect any rate cuts.