Why Markets Could Rally Today (1/11/23)

(1/11/23) Fed Chairman Jerome Powell much-anticipated speech yesterday was a nothing burger, and markets rallied in response. Investors are now dealing with resistance levels set back in August. One good sign: Markets are establishing higher lows. The next big challenges will be 4,000 on the S&P. There's not a lot of upside, and pay attention to a narrowing consolidation range that is occurring. If markets can rise above, then the subsequent rally could lift markets to 4,200 or 4,300. A defining factor will be the Dollar, which has come under pressure after its massive run upwards in 2021. Out of balance with other currencies, the Dollar has corrected, and is now challenging tops established in May 2020. The Dollar is now over-sold, and a counter-trend rally would not be surprising, and that would pressure. We would consider taking profits out of Gold, Oil, and other commodities at this point, particularly if the Dollar rallies anew. Hosted by RIA Advisors' Chief Investment Strategist, Lance Roberts, CIO Produced by Brent Clanton -------- Get more info & commentary: https://realinvestmentadvice.com/insights/real-investment-daily/ ------- Watch the video version of this report by subscribing to our new "Before the Bell" YouTube channel: https://www.youtube.com/watch?v=69Os8fdH8oY&list=PLVT8LcWPeAuiwiJLZ3oP_26MezKj1bhsu ------- Visit our Site: www.realinvestmentadvice.com Contact Us: 1-855-RIA-PLAN -------- Subscribe to RIA Pro: https://riapro.net/home -------- Connect with us on social: https://twitter.com/RealInvAdvice https://twitter.com/LanceRoberts https://www.facebook.com/RealInvestmentAdvice/ https://www.linkedin.com/in/realinvestmentadvice/ #InvestingAdvice #JeromePowell #Dollar #Commodities #Oil Gold #InterestRates #Inflation #Markets #Money #Investing