Monday Outlook 5/2

     The main event for the week will be Jerome Powell's rate hike on wednesday this week. The Fed increasing interest rates is the main reason for the market correction these past months. A 50 basis point hike is expected. Anything different will surely move markets. we might even possibly get a big move in the markets off of the expected 50 point move as well.
      Many world markets will be closed for some time this week. Most importantly Chinese mainland markets will be closed for the firs part of the week and Hong Kong markets will be close just Monday. Investors may flock to US markets that remain open all week.  $Hang Seng TECH Index(800700.HK)$ $Hang Seng Index(800000.HK)$ $SSE Composite Index(000001.SH)$ $SSE 50 Index(000016.SH)$  $Bilibili(BILI.US)$ $Kaixin Holdings(KXIN.US)$   $DiDi Global (Delisted)(DIDI.US)$  $Baidu(BIDU.US)$  $RLX Technology(RLX.US)$  $Chindata(CD.US)$  $Li Auto(LI.US)$  $Alibaba(BABA.US)$  $Tencent Music(TME.US)$  $JD.com(JD.US)$  $NIO Inc(NIO.US)$  $PDD Holdings(PDD.US)$  $Futu Holdings Ltd(FUTU.US)$
     Major US indices opened green this week. This is a good sign since we are near support. After the recent major sell off in US markets we should get some green candles soon for a temporary cool off of the downtrend.  $CBOE Volatility S&P 500 Index(.VIX.US)$ VIX is at a very high level and appears overheated. It may see a cool down soon.
$SPDR S&P 500 ETF(SPY.US)$

      Gold opened to the downside this week. It look slightly bearish. $Gold Futures(JUN4)(GCmain.US)$ $Barrick Gold(GOLD.US)$ $SPDR Gold ETF(GLD.US)$ $iShares Silver Trust(SLV.US)$ $VanEck Gold Miners Equity ETF(GDX.US)$ $VanEck Junior Gold Miners ETF(GDXJ.US)$ $MicroSectors Gold Miners -3X Inverse Leveraged ETNs(GDXD.US)$ $MICROSECTORS GOLD MINERS 3X LEVERAGED ETN(GDXU.US)$ $Cboe Gold Miners ETF Volatility Index(.VXGDX.US)$

     Crude as well as other commodities are looking slightly bearish as well as it opened red for the week. $Crude Oil Futures(JUN4)(CLmain.US)$ $ProShares Ultra Bloomberg Crude Oil ETF(UCO.US)$ $ProShares UltraShort Bloomberg Crude Oil ETF(SCO.US)$ $Chevron(CVX.US)$ $Exxon Mobil(XOM.US)$ $BP PLC(BP.US)$ $Imperial Petroleum(IMPP.US)$ $Indonesia Energy(INDO.US)$

     Natural gas is one of the few commodities that opened to the green side for the week. $United States Natural Gas(UNG.US)$ $ProShares Ultra Bloomberg Natural Gas(BOIL.US)$ $ProShares UltraShort Bloomberg Natural Gas(KOLD.US)$ $Henry Hub Natural Gas Futures(JUN4)(NGmain.US)$ $E-mini Natural Gas Futures(JUN4)(QGmain.US)$ $United States 12 Month Natural Gas Fund(UNL.US)$

     Yields are still very high and opened the week climbing further.  The rate hike wednesday will be interesting. $iShares 20+ Year Treasury Bond ETF(TLT.US)$ $U.S. 2-Year Treasury Notes Yield(US2Y.BD)$ $U.S. 2-Year Treasury Notes Yield(US2Y.BD)$ $Cboe/CBOT 10-year U.S. Treasury Note Volatility Index Settlement Price(.VXTYS.US)$ $Ipath Series B Us Treasury 10-Year Bear Etn(BTYS.US)$ $iPath US Treasury 5 Year Bull ETN(DFVL.US)$ $Barclays Bank Plc Ipath Us Treasury 5 Yr Bear Etn Usd(DFVS.US)$ $Franklin U.S. Treasury Bond ETF(FLGV.US)$

     The dollar is still climbing. This is possibly due to world markets being closed and the rate hike later this week. $Powershares Exchange Traded Fd Tst Db Us Dollar Index Bullish Fund Etf(UUP.US)$ $DB US Dollar Index Bearish Powershares(UDN.US)$ $Wisdomtree Trust Bloomberg U S Dollar Bullish Fd(USDU.US)$

     Major cryptocurrencies are primed for some short term upside possible. They are in oversold territory near support zones so we may catch a small bounce soon. $Ethereum(ETH.CC)$ $Bitcoin(BTC.CC)$ $Dogecoin(DOGE.CC)$