Trades with cats wrote:Everybody ready to play out guess the Algos when his speech is released. Will it be normal Fed day rules or something else?
I believe he will be hawkish. I don't think he wants the market to continue higher because he knows this bull market can't continue throughout his term. So the best time to share the blame between him, Yellen and Trump is now because soon Yellen (and even Trump if impeached or voted out) will be out of the picture. So the sooner the bear market takes place the better for him because he will still have time to fix it and leave behind a decent legacy. But if bear market happens later in his tenure, he will leave behind a bad legacy. I don't think he wants that. So bulls shouldn't expect any help from him anytime soon.
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OK, fake news about low was in. but still could be 3 push down, bears need push down more.
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march 27 high to current POC is (drum roll) 2612, so no surprise that the short squeeze gains are being reversed as Fed Chair sounds like economist not like someone who cares about Wall Street.
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