"And They All Came Tumbling Down !"

Hi There! I am thrilled to announce the recent launch of "The Secrets of the Money Mind Connection," a 52-week guided journal co-authored by myself and Jamar James. As I reflect on this incredible journey, I am overwhelmed with emotions and gratitude, barely able to contain my excitement! Throughout my own path, marked by major life transitions, I made it a personal mission to celebrate every win, document every lesson, and delve into deep-seated introspection. This transformative process has anchored me in all facets of life.

"The Secrets of the Money Mind Connection" is not just a journal; it's a transformative tool that will elevate your mindset over the course of a year. And what better time to share this news with you than on the eve of my birthday? This book is my gift to you, an opportunity to master your day and embark on the path to deep, meaningful work that will lead you on a life-changing journey of personal growth and transformation. 

Alright, let’s dig in!

Last week, the markets closed with significant losses as investors grappled with the reality of enduring higher interest rates. Stocks experienced a sharp decline last Friday, marking the worst week for both the S&P 500 and the Nasdaq Composite since March. The S&P 500 and the Nasdaq fell by 2.9% and 3.6%, respectively, making it the third consecutive week of negative performance for both indices. The Dow also saw a 1.9% decline throughout the week. These losses were largely driven by surging bond yields after the central bank forecasted another rate hike for 2023. The benchmark 10-year Treasury yield reached its highest level since 2007.

Here is a summary of the Federal Reserve's FOMC statement (last Wednesday):

• The Fed kept interest rates steady at 5.50%, signaling a cautious stance.

• The Fed's statement mentioned that the economy is doing well, but inflation remains high.

• According to the Fed's Dot-Plot, 12 members of the FOMC still expect to raise rates later this year by 0.25% (25 basis points) and 0.50% (50 basis points) higher in 2024.

• Fed Chair Powell emphasized that the central bank intends to keep interest rates high for a while. This led to higher bond yields, suggesting that the market might be shifting to safer investments, much like it did at the start of the year.

• The Fed wants to see a slowdown in economic growth. This is part of their plan to bring inflation back to their 2% target.

Despite the market's current bearish trend, there remain pockets of opportunity for discerning investors.

Here are other key highlights from last week:

• Oil ended the week lower as demand concerns face Russia’s supply ban

• Bitcoin failed to recoup post-Fed losses

• Google Cloud added 11 blockchains to their data warehouse ‘BigQuery’

• NFT Brand Pudgy Penguins debut toy collection in 2,000 Walmart Stores

• Polygon emerged as suitor for Celo’s new layer-2 Blockchain

Here’s what to expect this week:

The following U.S. Economic News is expected to be closely monitored by investors:

• CB Consumer Confidence

• Personal Consumption Expenditure (PCE) index

• Durable Goods Orders

• Gross Domestic Product (GDP) growth for the second quarter

• Michigan Consumer Sentiment

Additionally, investors will pay attention to updates on Case-Shiller home prices and the latest figures on new and pending home sales.

Fed Chair Jerome Powell is scheduled to speak at a town hall event in Washington, DC on Thursday (9/28/2023).

Other FOMC Members scheduled to speak throughout the week include Feds Kashkari, Bowman, Goolsbee, Cook, and Williams.

This is another light week for earnings. The most notable earnings for the week (September 25 - September 29) include Costco (Nasdaq: COST), Micron Technology (Nasdaq: MU), and Nike (NYSE: NKE).

This Week’s High-Impact Global Economic Data Highlights:

• Canada's Monthly GDP Reports

• CPI reports from the Eurozone, Germany, France, Italy, and Spain

This week's anticipated bias (not financial or investment advice):

• Monday (09/25/23) - Set Stops

• Tuesday (09/26/23) - Take Profits

• Wednesday (09/27/23) - Bullish

• Thursday (09/28/23) - Expect Volatility

• Friday (09/29/23) - Last trading day of the month - short any pumps

Trading Tip: No Volume; No Trade!

Week 09/17/23 - 09/23/23 Recap

Special Tools and Strategies

Heikin Ashi Charts

• The Heikin Ashi method is a special way to display price data on a chart without noisy market fluctuations.

• They make it easier to spot trends and are especially useful for traders who want to stay in trending markets while also keeping an eye on classic chart patterns.

Pros

• Slows down market signals, reducing false alarms.

• Minimizes false signals and reversals, boosting traders' confidence in their analysis.

• Provides a clear visual indicator of a "strong trend," allowing you to stay in your trade without making impulsive decisions.

Cons

• Works well only during trending markets; not suitable for sideways or choppy markets.

• May be slow in identifying trend reversals, potentially causing you to exit trades later than desired.

• Not ideal for very short-term trading or scalping.

How to Use a Heikin Ashi Chart:

Green Candles with No Lower Wicks (Strong Uptrend)

• If you see many green candles with no lower wicks, it indicates a strong uptrend.

• Stay in your long position until the Heikin Ashi candle changes from green to red.

• Continue riding the uptrend as long as there are no lower wicks and let your profits grow.

Green Heikin Ashi Candles (Uptrend)

• When the Heikin Ashi candle changes from red to green, it signals a potential price increase.

• Consider exiting your short (sell) position if you're in one.

• You can stay in the trade if you're in a long (buy) position.

Red Heikin Ashi Candles (Downtrend)

• When the Heikin Ashi candle changes from green to red, it suggests a possible drop in price.

• Think about exiting your long (buy) position.

• You can stay in the trade if you're in a short (sell) position.

Red Candles with No Upper Wicks (Strong Downtrend)

• If you observe red candles with no upper wicks, it indicates a strong downtrend.

Candles with Small Bodies and Upper/Lower Wicks

• These candles may signal a possible trend reversal or a temporary pause in the trend.

  

  Source: Rhoda Hall, The Rhoda Report

Disclaimer: This newsletter is strictly educational. The information this report provides does not constitute investment, financial, trading, or any other advice. You should not treat any of the report’s content as such. Please be careful and do your research.