The way things are embedding, I may have to use larger coffee cups. Friday charts:
Printable View
The way things are embedding, I may have to use larger coffee cups. Friday charts:
I kind of wonder why S Fund went up while others went down. I will look when I get back home.
Maybe it just takes longer to turn the boat.
Still looking to see when will we unembed:
Still watching if pattern will work. Still in handle area:
I was tempted to make a play. But something doesn’t feel right. Too many variables to make a good decision. Good luck!
I think I found the source of the funny feeling. New York fed bought 75 bill of securities last night? What’s up with that!?
https://www.marketwatch.com/story/us...of2&yptr=yahoo
... but included language in its accompanying statement and economic projections that called into question whether there will be another rate cut this year or next.
The Fed announced it would cut the benchmark federal funds rate a quarter percentage point to a range of 1.75% to 2% Wednesday afternoon, but said in an accompanying statement that “sustained expansion of economic activity, strong labor market conditions, and inflation near the Committee’s symmetric 2% objective are the most likely outcomes.”
Pressure from the administration is for more cuts. Personally I think there's a disconnect somewhere. Concern for inflation versus attempting to stimulate the markets. Stronger labor and economy should restrain further cuts yet many economists are calling for weaker expansion and stagnating markets. Push me pull me continues imo. And for that reason, this melt up market just may pick up speed until it runs into a brick wall.
Now since tomorrow is Friday, China or Iran news will pop up.:(