Fed Chair Powell participated in a roundtable discussion, joined by the heads of the ECB, BoE, and BoJ, at the ECB's Forum on Central Banking.

The US market concluded the trading day on a notably robust note, with all significant indices settling near their highs of the session.

A significant determinant of the index performance was the underperforming mega-cap stocks, currently undergoing balance exercises.

Our primary focus is to align our strategic approach with the evolving market trends.

We are witnessing a market pullback, and our task is to assess whether this development is significant enough for exploitation or merely a high-volatility pullback.

SPX: It came at no surprise that we had a PB this week across the indices as Javid has been mentioning for a couple of weeks now.

A mixed look in the markets with US closing mainly positive and Europe negative.
Sectors were also mixed but VIX fell further to below 13.

European main indices closed negative and there was a mixed look on US sectors.
Somewhat surprisingly, VIX actually fell 5%.

On Tuesday, U.S. equity markets experienced a downturn which might have been due to the lofty levels reached or the lack of full participants as it was a long weekend, although volume was average.

A good ranged bullish candlestick for the SP500 this week which broke above the pivot high convincingly from back in August 22.

The recently released Consumer Price Index (CPI) data suggests that inflation rate has fallen to a two-year low of 4%, with core inflation rates dipping to 5.3%, a figure that may still be considered high by the Federal Reserve (Fed).

The primary market benchmarks commenced trading with a somewhat subdued tone as seen in the Futures Report, but rapidly transitioned into a bull-driven Thursday. 

Now that CPI, PPI and FOMC statement are out of the way, we can focus on trading again.

Today we await the FOMC statement, so we are not expecting too much action until then.

By the closing bell, the S&P 500 had ascended to its loftiest peak since April 21, 2022.

A noteworthy development involves Ford and GM'srecent partnership with Tesla. They plan to enable Ford customers to utilize Tesla chargers, necessitating a change in Ford's charging unit. This week General Motors (GM) announced a similar move to use Tesla's Superchargers, further reinforcing Tesla's dominant position. This could lead to a higher usage of Tesla's charging stations, resulting in more income for Tesla, but potentially longer wait times for Tesla users.

TSLA getting ready to test Nov 2022 highs after making a new high YTD.

In fact, TSLA has made a new high 20 times YTD. For some context, the S&P 500 had made a new high 18 times YTD.

In Wednesday's trading, the market presented a largely positive outlook despite a mixed performance at the index level. The major indices showed resilience despite some losses in the mega-cap arena, buoyed by higher-than-average trading volumes. Notably, the Russell 2000 index outperformed its counterparts, gaining 1.8%.

On Tuesday, the Russell 2000 took the lead in index-level appreciations, though the weight of some struggle of strength in mega-cap stocks imposed the latest round of resistance on the S&P 500, Dow Jones Industrial Average, and Nasdaq.

S and CRWD both reside in the cyber security industry under Technology/Software sector.

SentinelOne provides AI-powered cybersecurity solutions for threat detection, response, and remediation across cloud and on-premise environments.