Dawn Report – September 27, 2022


The S&P 500 closed at a record low for 2022 and we’re officially in a bear market… yet the American economy’s claim to dominance is stronger than it’s ever been in recent history.

Remember during the pandemic how there was all this panic about China overtaking the United States? Or the titan that was the European Union that was going to eventually shake free of Washington and form a mighty United States of Europe?

How quaint that all looks now.

The dollar continues its rampage, gaining even further. The pound fell even more against the dollar, with the colonial currency continuing to dab on the mother country. The euro is similarly weak.

The Chinese yuan is also at a 28 month low against the dollar despite the People’s Bank of China raising the foreign exchange risk reserves, a step taken to protect the currency’s value.

Ironically, the main foreign currency that’s doing well right now is… the Russian ruble. It hit a new high against the dollar. Still, one might argue that’s a bit artificial because of the massive capital controls coming from Moscow.

But then again, is that so much more artificial than meddling from a country’s central bank, something we all take for granted?

Of course, a strong currency has drawbacks as well as benefits for a country. Obviously, it hurts exports and could potentially slash profits for many American companies. Yet it also cushions any fall in the price of financial assets.

For that reason, the American economy isn’t facing the kind of existential disaster that the European, Chinese, or potentially the Russian economies are.

They call economics the “dismal science,” and Chris Hood has had enough of it. What matters is predictive power – and economists have none of it.

When it comes to trading, trust in the tools we’ve given you and the experience you’ve accumulated.

The rest will take care of itself.

Keep Moving,

 


Any strategy that makes you money consistently is worthwhile.

Though many new traders believe that trading is primarily about indicators and tools, Chris maintains that it is at least 95% about emotional control.

This is especially relevant in this bearish, choppy market which has made the trading world extremely difficult.

Learn some pro tips to come back from your losses and stay in the game.


WORD ON THE STREET 

Meta Keeps Bombing, Russian Pipeline Leaking, Ford Wants Do-Over

  • How Low Can It Go? – We warned you earlier that Meta Platforms (META) had farther to fall, and so it has. META was down almost 3% yesterday, slightly declining even further after-hours. The company is trying to turn the tide by making it easier to link your Facebook and Instagram accounts… but perhaps the platforms have just lost their appeal among young people.
  • Nord Stream Pipelines Leaking – Both Nord Stream 1 and Nord Stream 2 have recorded pressure drops and the latter is leaking into the Baltic Sea. It’s just the latest crisis facing the Continent now that it’s been essentially cut off from Russian natural gas. The German government has said that the incident will not change the country’s supply.

Neither the Russians nor the West has an explanation for the leak
  • Can I Get A Mulligan? – After staring down the barrel of a brutal $1.7 billion verdict in a trial involving a truck rollover, Ford (F) wants another chance. It’s petitioning a Georgia court for a new trial, arguing that it was prevented from providing evidence that would have cleared the company. Ford wasn’t exempt from the market decline yesterday, dropping 2.6% during the trading day.

  • S&P 500 Closes At 2022 Low – After dropping 1.03%, the S&P 500 hit a record low since the beginning of the year. The Dow was down more than 329 points and the NASDAQ composite lost 65 points. The markets have lost more than $7 trillion in market capitalization in 2022 so far.

 


This “tool” earned over $400k in 12 months.
Video uncovers the winning tactics that handed one trader an average $7,300 in profit every week using just shy of $12,000 in capital.

HOT SPOTS: What’s Going on in Geopolitics

  • Russia Admits Problems In Draft – The “partial mobilization” in Russia is not going well, with the government admitting that some people who did not meet the criteria have been swept up in the process. Scattered protests have escalated into violence in some areas, with recruitment locations targeted for arson. One recruitment officer was also shot and wounded in Siberia.
  • Ukrainian Counteroffensive Grinds On In The South  The Ukrainian military is continuing to gain territory in the south but is suffering heavy casualties as it struggles to retake Kherson. President Vladimir Putin has reportedly emulated Stalin in a “not one step back” type order, forbidding retreat by his commanders. It’s a race against time for Ukraine as Russia prepares to train and reinforce its troops while holding referendums that will make the territories part of Russia itself.

  • Chinese, Russian Ships Make Joint Patrol Near Alaska – The Coast Guard spotted a small fleet of seven ships from China and Russia sailing near Kiska Island on September 19. The American government recounted the incident yesterday, stressing that while the foreign navies didn’t violate international law, the USA would “meet presence with presence” to ensure that they don’t get too comfortable probing American waters.

CUTTING EDGE: Whats Happening In Tech

  • 17 Year Old Arrested In Major Hacks – I guess the movie trope is true – sometimes, it really is just some smart teenager behind epic computer hacks. The corporate world was stunned by hacks of both Uber and Rockstar Games, with the latter featuring a major leak of Grand Theft Auto 6 materials well before developers wanted it released. However, police in the UK have reportedly arrested the culprit. Despite his international impact, we can’t tell you his name – he’s too young for it to be released.
  • Walmart Makes An Entrance In Roblox – It’s been a bad year for the metaverse, but that doesn’t mean the concept is going away. “Walmart Land” and “Universe of Play” are two new experiences on Roblox (RBLX), both aimed at younger consumers. Games, contests, and concerts are among the attractions in this virtual world.

  • Canceling The Apocalypse – It’s what killed the dinosaurs and what many assumed would kill us – an asteroid could hit the planet and put an end to civilization. Well, cancel the disaster movies. NASA’s Double Asteroid Redirection Test (DART, very cute) successfully showed its stuff by redirecting an asteroid in space. “At its core, DART represents an unprecedented success for planetary defense, but it is also a mission of unity with a real benefit for all of humanity,” said NASA Administrator Bill Nelson.


Sleep soundly – the first ever planetary defense test was a success

FOR YOUR CONSIDERATION

No matter how dressed up their outlooks are in fanciful talk, historical examples, and words you don’t understand, their pronouncements are still just opinions. The “experts” don’t lose money if they’re wrong, but you will if you follow them.

Forget the theories. Forget the narratives. None of it matters when it comes to trading. Chris Hood tells the so-called experts to get lost and tells you what you need to know about what matters – how to trade, win, and make money.

 

 


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