Technical trading with day traders in charge for sure. Last 30 minutes tested both the overnight high, to the tick and the overnight low, exceeded by two ticks, with (for dramatic flourish) pauses at yesterday's high and today's opening print. Too bad it is such a tight range.
But it is summer swim suite season so time to go on a diet and learn to live on scalper's wages.
10 min to roller coaster show. so far the pullback is healthy.
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In the latest dots, the rate hike path steepens a little this year, still aiming at 3.4% end-2020; longer-run neutral rate still seen at 2.9%
FOMC statement says economy growing at "solid rate,'' job gains have been "strong,'' consumer spending has picked up and investment continued to grow "strongly''
Language about the economy upgraded, line about rates remaining below long-run levels "for some time'' was removed
The sentence got tweaked: "The Committee expects that further gradual increases in the target range for the federal funds rate will be consistent with sustained expansion of economic activity, strong labor market conditions, and inflation near the Committee's symmetric 2 percent objective over the medium term.''
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
the rebound to me is a surprise move, I thought it'd be down and down...
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Quote of the day. Hugh Hendry (who I admit has had a couple of bad years fighting the central bankers) to emerging markets "I would panic".
Side note, be it real estate in your town, world markets, what ever the problems always start at the edge and those in the center always think they will not be touched.
exceeded 100% mm (tinted area) so maybe up is a little more likely?
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