The United States will release non farm employment figures tonight, which have been a significant amount of data in the past. However, the remarks made by Federal Reserve Chairman Powell regarding interest rate hikes have led to continued upward expectations for interest rate hikes in the United States.

The rise in interest rates will put downward pressure on the stock market. Since 2008, the Federal Reserve has been supporting the stock market for every 15% adjustment. However, it is evident that since 2021, the Federal Reserve has not reduced its bond sales due to a decline in the stock market. In fact, in September 2022, after the Dow Jones Industrial Average fell by 29250 points, the Federal Reserve continued to raise interest rates. This indicates that 29250 has triggered another easing or cessation of tightening by the Federal Reserve. So the future level will be below 29250, and the Federal Reserve has the opportunity to take a break.

Starting from the low starting rate in 2008, if the Dow returns by 38.2%, it may try 25300 or even 21700 organic stocks. BY DUKASCOPY BANK SA