vol surge so maybe a rebound here first then we'll see.
Attachments
Like to read more of my commentaries? Please subscribe my Daily Market Report. Subscribers can find all the members only posts HERE. StockCharts members, please vote for me HERE, thanks.
Powel sounded just like a career economist, now what they wanted. They wanted a panicked Fed ready to confirm Jim Bullard's earlier statement that rate increases could end right now. Bottom line Wall Street needs a low rate fix or it is hard detox.
They "can't" make it to the line in-the-sand (2532.50) today, so I imagine they bounce it in the last 45 minutes and then they (US govt) will buy it Monday morning (if it is is at or below 2532.50). No doubt the Chinese will come out with a statement or two over the weekend to get some selling.
Attachments
Educational only and not trading advice (EO&NTA) Good trading to all
Daniel wrote:265 SPY has seemed to be a sticking point on various occasions past few weeks. Price is right there, now.
Looking out across the sector board, aint nobody too happy with the current state of affairs except Europe ETFs and the euro. They win a trade war btw US and China.
Also gold miners are up > 1%.
Defensives (XLU, XLP) are up small. Semis are cratering.
yes. some trader talk about this top of range and moving the markets lower into earnings season (starts fri 13th..) - Powell chat this afternoon might move things....
Need to entice bears for a week then earnings kicks off on Friday. Would normally expect earnings "surprises" to kick start the squeeze. Market needs to drain the last bullish hedge fund dry before things can get really into crash mode. Pershing Square needs to be one of many.
Teddy Valley just tweeted
"Since 1990 when the $SPX has lost more than 1.5% on a Friday, Monday saw a lower low 90/ 93x = 96.7%"
But I am not interested in holding over this weekend. The Chinese Govmn't will have something to say when their markets open Sunday evening New York time.
Like to read more of my commentaries? Please subscribe my Daily Market Report. Subscribers can find all the members only posts HERE. StockCharts members, please vote for me HERE, thanks.
Trades with cats wrote:Teddy Valley just tweeted
"Since 1990 when the $SPX has lost more than 1.5% on a Friday, Monday saw a lower low 90/ 93x = 96.7%"
But I am not interested in holding over this weekend. The Chinese Govmn't will have something to say when their markets open Sunday evening New York time.
do expect a gap down monday , and then hover a bit around 2520-50 range next week. but wow on those odds....