On Friday Jerome Powell said that the Fed is moving ‘purposefully’ to a level sufficiently restrictive to return inflation to target. The September hike is going to be dependent on the totality of the data since July’s meeting. This was seen as throwing cold water on the idea of the Fed pivoting and sending stocks lower.

Does this hawkish stance from Powell mean that the Nasdaq’s weak seasonals are perfect for a short position?

Major Trade Risks: The major risk is that Jerome Powell signals a more dovish approach and that will likely help the Nasdaq recover.

HYCM clients can access the Seasonax product in order to analyse over 25,000 currency pairs, indices, commodities, as well as individual stocks. Please contact your account manager for a free trial. Certain products & services mentioned herein may or may not be available to all clients depending on which HYCM Capital Markets Group entity their trading account(s) adheres to.


HYCM Lab is a financial analysis source that provides regular insights on how global news affects the markets including forex, commodities, stocks, indices, and cryptocurrencies*. Run by the HYCM team, it equips traders with everything needed to make informed trading decisions.