7.22 Midday Thoughts



We are currently in the Fed’s quiet period from 7.18 to 7.30. All officials are keeping silent, and the market can only rely on US stock earnings reports to determine its own direction. The yield on the 10-year US Treasury is rising to 4.64%. Middle East geopolitical tensions are pushing crude oil prices higher. Concerns about inflation in the energy sector are resurfacing, causing the market to delay expectations for Fed rate cuts. A prolonged high-interest-rate environment continues to weigh on the valuation of non-yielding “big pie” assets. The conditions for a one-way, big surge are still not in place.

For the “big pie,” look for support around 67,000–67,500, with targets toward 65,600–65,100.
For the “second pie,” look for support around 1,960–2,000, with targets toward 1,900–1,860.
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BlueSevenCommunity
· 07-22 04:55
7.22 Midday Thoughts

The market is currently in the Fed’s quiet period for the 7.18-7.30 meeting. All officials are holding their tongues, and the market can only rely on US stock earnings reports to chart its own course. The yield on the 10-year US Treasury has risen to 4.64%. Geopolitical conflicts in the Middle East have pushed crude oil prices higher. Fresh concerns about inflation on the energy side have resurfaced. The market has pushed back expectations for the Fed to cut rates. The long-term high-interest-rate environment continues to suppress the valuation of non-yielding “big pie” assets, and the conditions for a one-way surge still aren’t in place.

“Big pie” rebound/short-term resistance around 67,000-67,500, target around 65,600-65,100.
“Second pie” rebound/short-term resistance around 1,960-2,000, target around 1,900-1,860.
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