U.S. Equity Markets surged yesterday after Treasury Secretary Janet Yellen said the government is able to provide more deposit guarantees, which could include temporary insurance on deposits larger than $250,000. The median sales prices of previously owned homes fell in February for the first time since February 2012, signalling the housing market is cooling thanks to the Federal Reserve’s interest-rate hikes. The Bank of America Global Fund Manager Survey showed investor bearishness is nearing record levels within the past two decades. A “systemic credit event” was flagged as the biggest economic risk. Despite the doom and gloom the Fed is expected to raise interest rates at this evening’s monetary policy meeting– and potentially signal a pause to further rate hikes. Within the S&P 500 Index, eight of 11 sectors finished higher. European Markets closed higher. Germany’s Economic Sentiment fell for the first time in six months in March as banking sector concerns compounded worries of higher inflation. ECB President Christine Lagarde reiterated it stands ready to adjust monetary policy accordingly to preserve financial system and price stability, while ECB Member Pablo Hernández de Cos said that the central bank is prepared to maintain price and financial stability through its current monetary policy. The Bank of England meets Thursday as investors are looking to see if the central bank will raise rates further or pause rates in response to financial-sector pressure. In Asia, the Reserve Bank of Australia’s policy meeting minutes noted that it will consider pausing rate hikes moving forward in response to the economic slowdown. China’s spending on Russian energy products grew from $57 billion in February 2022 to $88 billion last month, picking up the slack from Russian-energy boycotts by other countries. The People’s Bank of China added $22.3 billion worth of funds to its financial system via reverse repurchase operations to ensure ample banking liquidity. Elsewhere, Oil rose 2.75% while Gold closed 2% lower on profit taking.

To mark my 2750th issue of TraderNoble Daily Commentary I am offering a special 2-Year Rate of Euro 2750 for my Platinum Service which includes 1 to 4 updated emails throughout the trading day to demonstrate this value, a monthly subscription over the same period would cost 4440 euro in total This offer represents a 38% discount and is open to both new and existing members. If anyone is interested in this offer can you please email me on bryan@tradernoble.com for details

For anyone following my Platinum Service it was flat yesterday as none of my calls got executed and is still ahead by 5027 points for March after finishing February with a gain of 3164 points, after closing January with a gain of 4687 points, while finishing December with a gain of 2054 points. November ended with a gain of 4789 points, while finishing October with a record gain of 9619 points, making 6660 points in September, after closing August with a gain of 2228 points, having made 2660 points in July, following a gain of 3371 points in June. The Service made 3651 points in May, after making 762 points in April, following a gain of 5883 points in March. The Platinum Service made an impressive 5324 points in February, after ending January with a gain of 3878 points, more than making up for December’s 932 points loss. Since I started this New Platinum Service in June 2015 it has averaged a monthly gain of over 1600 points. I have a YouTube Channel which contains recent interviews I have given This can be viewed by clicking HERE Please subscribe to this for new interview notification 


The S&P 500 closed 1.30% higher at a price of 4002

The Dow Jones Industrial Average closed 316 points higher for a 0.98% gain at a price of 32,560.

The NASDAQ 100 closed 1.42% higher at a price of 12,741.

The Stoxx Europe 600 Index closed 1.38% higher.

Yesterday, the MSCI Asia Pacific rose 0.64%.

Yesterday, the Nikkei closed 1.42% lower at a price of 26,945.


The Bloomberg Dollar Spot Index closed 0.50% lower.

The Euro closed 0.3% higher at $1.0765.

The British Pound closed 0.3% lower at 1.2219.

The Japanese Yen fell 0.7% closing at $132.44.


Germany’s 10-year yield closed 16 basis points higher at 2.29%.

Britain’s 10-year yield closed 5 basis points higher at 3.36%.

U.S.10 Year Treasury closed 14 basis points higher at 3.62%.


West Texas Intermediate crude closed 2.75% higher at $69.50 a barrel.

Gold closed 1.97% lower at $1938.10 an ounce.

This morning on the Economic Front we have U.K. CPI, PPI and the Retail Price Index at 7.00 am. Next, we have another speech from ECB President Lagarde at 8.45 am followed by Euro-Zone Current Account at 9.00 am. At 1.45 pm ECB Member Panetta is due to speak. Finally, at 6.00 pm we have the FOMC Statement followed by the Powell press conference at 6.30 pm. German ZEW Survey at 10.00 am.

Cash S&P 500

History tells us that every time we have central bank coordination the market rallies. If you go back to 2019, 2008, 2001 and even 1987 resulting in market surges. It does not matter that a host of banks are in trouble the system must be protected at all costs and it is this view that have kept us on the buy side for the past four months since the October bottom. Yet again the Bears have been run over. While the S&P made have some down days over the coming weeks the trend is your friend. We are comfortably above the 200 Day Moving Average at 3937 while yesterday’s aggressive move higher sees the Weekly 5 EMA, Weekly 50 EMA and Weekly 150 EMA all broken at 3965, 3966 and 3980 respectively. We did see some negative divergence at the 4010 highs. I do not know what the Fed will do this evening but unless it is dramatic any sell-off should be contained. Despite the aggressive rally the Signal charts are far from overbought. We also have the political situation to consider. Yellen is out there constantly banging the confidence drum while we know that liquidity is flushing the system. Can we really presume Powell can risk a further meltdown in financials at his press conference this evening. While every other sector is rallying, the Bank Index continues to struggle with the 14-Day RSI closing again below 30. In my opinion new lows in Financials following the Fed this evening would not be a good luck especially when Yellen is touting the stability and soundness of the Financial System. We may well see a dip today but I have no interest in having a short position on board. I really believe that the lows or in unless Powell screws up this evening which I do not expect. The S&P has support from 3935/3965. I will move my buy level to this area with a 3919 ‘’Closing Stop’’. We have strong resistance from 4070/4090 where I will be a seller with a 4105 ‘’Closing Stop’’.


I am still flat as the Euro again had a small rally over the past 24 hours. I will now raise my buy level to 1.0640/1.0700 with a higher 1.0585 ‘’Closing Stop’’. I still do not want to be short the Euro at this time.

June Dollar Index

I am still flat the Dollar. I will leave 103.95/104.65 sell level unchanged with a higher 105.25 ‘’Closing Stop’’.

Cash DAX

Coordinated intervention and the DAX rallies 700 points off Monday morning’s low print and yet again the bears are left chasing their tail. Rinse and repeat since the October lows. As I mentioned above we will see the odd day when we have a nasty correction but given the liquidity injection all dips will be bought. I will now raise my buy level in the DAX to 14950/15050 with a 14875 ‘’Closing Stop’’.


Yet again the move outside the Daily Bollinger Band did not last long with the FTSE now trading 350 points above Monday’s 7200 low print. I am still flat as the market never came close to yesterday’s buy range. I will now raise my buy level to 7410/7480 with a higher 7345 ‘’Closing Stop’’.

Dow Rolling Contract

Although the Dow closed higher by 1% yesterday, it still underperformed the other major Indexes. This was no surprise as bank shares still remain nervous ahead of the Fed and Powell this evening. Despite my concerns the Dow is now trading 1000 points higher than where we were early Monday morning. However the Dow did not manage to close above its 200 Day Moving Average (32371) by 200 points. This level will now act as strong support on any test. Ahead of the Fed I will now raise my buy level to 32000/32250 with a higher 31795 ‘’Closing Stop’’. I still do not want to be short the Dow at this time.

Cash NASDAQ 100

Incredible the 14-Day RSI for the NDX closed at 63 last night. In just 48 hours we have gone from being oversold too almost overbought. What Crisis!! I am still flat as the NDX never came close to yesterday’s buy range. I will now raise my buy level to 12400/12550 with a higher 12295 ‘’Closing Stop’’. I still do not want to be short the NDX at this time.


I am still flat the Bund as the market never came close to yesterday’s sell range, trading 250 points lower from where I marked prices 24 hours ago. The Bund has support from 134.50/135.30 with a 133.75 ‘’Closing Stop’’. Given the recent 500 point in the Bund I do not want to be short the market at this time.

Gold Rolling Contract

Monday was the time to sell Gold with the market now trading over $70 off its 2009 morning higher. I am still flat. Given the size of the sell-off I no longer want to be short Gold at this time. As I am still long Silver I will now lower my buy level to 1905/1920 with a wider 1889 ‘’Closing Stop’’.

Silver Rolling Contract

I am still long Silver from last month at a price of 23.10. I am impressed that despite Gold’s $70 sell-off since late Monday, that Silver is holding, trading at 22.35 as I go to press. I will leave my 21.45 ‘’Closing Stop’’ on this position. I will have no T/P level. If any of the above changes I will be back with a new update for my Platinum Members.