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Don't know what pattern it is. Smaller scale roller coaster show at 2 pm (Fed Minutes), don't forget.
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Middle of the night tariff announcements have supposedly caught some funds in a liquidity crunch. Experts are saying jump in interest rates in the middle of the night is the sound of a hedge fund being liquidated as the bankers sell the Treasuries held as collateral. Everyone waiting to see if the Fed steps in.
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Kind of consolidation so bias is up. 5 min to Fed minute but I guess it doesn't matter anymore.
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Today is not like drinking out of a fire hose. More like the output from Hoover Dam. My 2,000 tick chart is clocking a 21 n ATR of 45. Not the 12 or so I am used to.