Cautiously moving slowly upYes SYA though lost 2c to finish on...

Cautiously moving slowly up

Yes SYA though lost 2c to finish on 7.4c. Our volume was again big and good, similar to last few days, just over 233m shares traded. So a bit disappointing to finish on 32c now after reaching 37.5c couple of days back, But just 8 trading days back we closed at 25.5c on two consecutive days, so still in good position. SYA does actually swing more than many other shares, so nothing new there. Another big swing in positive direction will soon take us back.

ASX Li stocks also moved up tentatively. Of the 54 stocks i track average gain was 2.5%.

Overnight US Li stocks were also trying to make a move up. They also had a similar gain like us today, average 2.5%. So we are going in sync, for now.

What next -

After a big fall on Tuesday, it was expected that there may be a bounce. We did get one, though it was not big, Still most resource stocks took advantage of it and gained a few percentages. For the last couple of weeks, ASX is going in tandem with US. It gained around 0.2% and stocks had a similar rise like in US.

So yesterday markets were again toying up with SP 500 mark of 3900. It touched 3911 before closing on 3947. Another day that SP 500 has survived the 3900 mark. The PPI figures came in slightly lower, not enough to give a big rally, but to check the downflow.
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Markets are again at a pivotal phase. Both downside and upside are in play, and possibly with big margins. Hence its important to see which direction it goes. The next big announcement is US interest rate next Friday, after the market opens. Powell will also speak. That should provide direction. A raise of 0.75% is near certainity now. Markets have accepted it. If it comes to 0.75%, there should not be any big adverse reaction, as market is expecting it. But will Powell be happy with 0.75%? If markets expect 0.75% and he says 0.75%, then market can do his job - he may think like that. Will a raise of 1% will satisfy his ego and give him the sense of power? Although at this stage, only a few are saying 1%, but one could not overlook that - for reasons both economic and personality.

What is market expecting? Lot of big options are expiring on Friday, weekly/monthly/quarterly. Very big players play that. To get a big win, a lot of money is sitting on SP 500, the 4000 mark, which is 1.25% up from here. Many believe markets are manipulated, and they believe on Friday we may see that. Before that just under 3900 is also into action play, may be tonight. Lets see if they can play the market.

So what will happen tonight? US Futures nearly flat. Except for China/Korea, other Asian markets had a small green. Volatility index VIX fell yesterday, sitting at 26.16. After a 10% gain in VIX history says we get a bounce. It rose 14% on Tuesday. We got a bounce yesterday, though it was small - so we may continue. Cryptos are not a happy camp. Bitcoin struggling to hold 20k. Tonight US Retail sales data before market opens, that may provide slight direction. Probability is for a flattish day (slight red/green) tonight. So will we continue our slow march upwards till next Wednesday Interest Rate decision? There is a likely hood of inching towards SP 500 4000 mark, but what will happen after that is not clear. It would still be good to get there, further away from 3900. Will that happen? Lets hope so. All the best.