Trading Plan – Monday 13th March 2023: SVB fallout continues into this week

Mark NugentMarch 2023, Trading Plan

Trading Plan – Monday 13th March 2023: SVB fallout continues into this week

Good afternoon.

In addition to this text-based commentary, there is a video available in the VIP Club member’s area under the “2023/Week 11” tab HERE

Last week began with hawkish Fed Chair Powell hammering home his “we’ll do what it takes” message and ended with a banking crisis, fear of contagion to other banks, and Goldman Sachs saying this morning the Fed will not raise rates at all at their meeting next Wednesday, 22nd March.

The fallout from the collapse of Silicon Valley Bank (SVB) is still being felt today. Global equities are down as are the USD and US bond yields. In the UK, HSBC has bought the UK arm of SVB for one whole pound.

We have a relatively quiet week on the calendar with US CPI and Retail Sales being the highlights. Of course, the SVB saga will continue but regulators and central banks have acted effectively and in a timely manner, so far.

As always, I go through my trading themes for the week in the video.

I’ll be back tomorrow.

VIP Club members can see all videos, text-based commentaries, all brief trading videos, the Monthly and YTD Performance videos, the Trading Video Course and download the MTM Indicators software HERE