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Major fail by bears yesterday, again. we have a fed announcement for new chair very soon, if it's Powell or Yellen..to the moon , again, alice...Trades with cats wrote:Right now it looks like the Yellen spike down this morning is showing us reasonable support. By all accounts this should be a flat day so the retest of the Yellen spike should mark the low but I am a bit skeptical of that scenario.
I agree and next week is first of the month which tends to be bullish....Trades with cats wrote:Finally the ES moved above overnight high for the second time playing catch up to the action in the small caps. Time to decide if today is the day for new highs or if we drop back into the range and wait for Friday/Monday standard game plan.
I favor waiting so more retail money can be tempted over the weekend and then close the deal with one of those Sunday night gap ups on invisible volume.
That is an amazing graphic, thanks for posting.Trades with cats wrote:...poster that shows all our cognitive biases.