Earnings season will continue to roll on this week, with FAANG members, Facebook (FB) and Apple (AAPL) reporting. On Friday, energy giants, Chevron (CVX) and Exxon Mobil (XOM) report before the market open. The recent market volatility has had an effect on what the market feels the probability that the Fed may “pause” on interest rate hikes. The chance of a December hike is now 71%, and last Monday markets were implying 80%.
Forex and stock traders are looking for the consistently wrong investor, trader and take the opposite position. This will obviously lead to winning trades for them. All traders have read trading books that point out that increasing volume is good for the continuation of the trend. Many new stock traders will try and fight the trend.
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