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No idea whether the rebound was over or not, generally it'd fail eventually anyway.
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target is SPY 204. So looking for an entry on some sort of overbought condition. Couldn't short the gap down since that was extreme oversold. I'll be patient for my entry.
bearish as of SPY 406 on 2/17/23
currently: end bearish as of SPY 406 on 3/6/23
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The uber dove, Lael Brainard, best known for repeated political donations (unseemly for a fed governor) will be the last to speak before the blackout starts. She is expected to start at around 1:20 eastern today. So the release of her speech from press embargo could put some extra life into the 3:30 ramp today
DellGriffith wrote:Im more than willing to scrap all my plans due to speeches today lol
(big sigh) Well with this crazy world of central planning you gotta know what they are up to.
My guess is because this first leg down was caused by "Peter Pan" Kuroda screwing up the JGB market the best Janet and Company can do is soften the blow. Gandalf said in his note that the normal September October volatility is enough to force Bridgewater and the rest of the bozy (Systematic Trading Funds) to cut their record leverage. Depending on who you read the 50 or 100 or what ever billion dollars in selling has to be covered by somebody and right now it isn't Tim Cook and the rest of the CEO's (only source of new money for a year or more) so that means Super Mario and his partners at the Swiss National Bank have to step up. Well didn't Schwabel just step on Mario's foot? Just to make it worse oil isn't going up and all those oil states in and out of OPEC have to meet payroll so you know they will be adding to the selling pressure to make up their shortfall. So somebody somewhere needs to pick up the pace on money printing big time.
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