Possible -20% Drop
I have been watching the Nasdaq very closely but wasn't quite sure which pattern to honour, but we did have a drop yesterday for No Apparent Reason apart from gossip that "The Fed May Increase Interest Rates" lol
The Algo's have again followed the 2008 crash, there is a drop just to the left of today's 3% drop, 2 days earlier this time.
Also Vix previous pattern repeated but 1 day early.
So i have too conclude undoubtedly patterns do repeat, as shown by this whole trend of the Nasdaq following the 2008 Crash Pattern to the "t" (See all previous posts of this chart proving the point, Click little Triangles on the Chart if you want)
Here is a good post supporting the possible drop, popped up on my screen this morning as i was doing this post.
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Read carefully
Nothing in Fed Chairman Jerome Powell’s question-and-answer session warranted today’s spike in the dollar and losses in equities (Stocks). A rally like the one we saw today in the greenback would normally be fuelled by hawkish (Bullish) commentary.
Instead, the changes to the FOMC statement were slightly more dovish:(Bearish) The central bank acknowledged the moderation (Pathetic decline, Lack of) in activity and employment in areas hit the hardest by the pandemic and predicted modest inflation this year (Apart from in everything people need to survive food rent etc).
This cautious outlook explains why Powell thinks it's “too early to focus on tapering dates.” He said they are still a long way from meeting inflation and employment goals, so when it's time to “gradually” taper, they’ll let us know well in advance.
By avoiding any specific timeframe on taper, today’s comments should have driven the dollar lower, and Stocks Higher.
So why did the greenback pop? The answer is stocks (Equities).
The Dow Jones Industrial Average dropped more than 2% to a three-month low on concerns that speculators could be met by regulators.
It was FOMC day but no one can stop talking about GameStop (NYSE:GME) and the short squeezes driven by Reddit and WallStreetBets. Some investors are worried that massive losses by hedge funds could force liquidation of other investments.
In fact, unwinding risky bets is one of the main reasons why the U.S. dollar was driven higher today (Safe Haven) . If tomorrow’s U.S. fourth quarter GDP report misses expectations, the slide could accelerate quickly. In times like this it is important to remember that corrections are always faster and more aggressive than rallies. With retail sales falling every month in Q4, the risk is to the downside for tomorrow’s report.
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Who knows really at the end of the day unless you are a Goldman Sachs man an insider, unfortunately, we are not (I would assume)
Is it good to play it safe - Yes
Is it good to take profits - Yes
Is it good to believe what you are seeing in this 2008 recovery pattern, being played out as we speak.- Yes (imho)
Always up to you.
Lets see what happens
: )
I have been watching the Nasdaq very closely but wasn't quite sure which pattern to honour, but we did have a drop yesterday for No Apparent Reason apart from gossip that "The Fed May Increase Interest Rates" lol
The Algo's have again followed the 2008 crash, there is a drop just to the left of today's 3% drop, 2 days earlier this time.
Also Vix previous pattern repeated but 1 day early.
So i have too conclude undoubtedly patterns do repeat, as shown by this whole trend of the Nasdaq following the 2008 Crash Pattern to the "t" (See all previous posts of this chart proving the point, Click little Triangles on the Chart if you want)
Here is a good post supporting the possible drop, popped up on my screen this morning as i was doing this post.
-----
Read carefully
Nothing in Fed Chairman Jerome Powell’s question-and-answer session warranted today’s spike in the dollar and losses in equities (Stocks). A rally like the one we saw today in the greenback would normally be fuelled by hawkish (Bullish) commentary.
Instead, the changes to the FOMC statement were slightly more dovish:(Bearish) The central bank acknowledged the moderation (Pathetic decline, Lack of) in activity and employment in areas hit the hardest by the pandemic and predicted modest inflation this year (Apart from in everything people need to survive food rent etc).
This cautious outlook explains why Powell thinks it's “too early to focus on tapering dates.” He said they are still a long way from meeting inflation and employment goals, so when it's time to “gradually” taper, they’ll let us know well in advance.
By avoiding any specific timeframe on taper, today’s comments should have driven the dollar lower, and Stocks Higher.
So why did the greenback pop? The answer is stocks (Equities).
The Dow Jones Industrial Average dropped more than 2% to a three-month low on concerns that speculators could be met by regulators.
It was FOMC day but no one can stop talking about GameStop (NYSE:GME) and the short squeezes driven by Reddit and WallStreetBets. Some investors are worried that massive losses by hedge funds could force liquidation of other investments.
In fact, unwinding risky bets is one of the main reasons why the U.S. dollar was driven higher today (Safe Haven) . If tomorrow’s U.S. fourth quarter GDP report misses expectations, the slide could accelerate quickly. In times like this it is important to remember that corrections are always faster and more aggressive than rallies. With retail sales falling every month in Q4, the risk is to the downside for tomorrow’s report.
-----
Who knows really at the end of the day unless you are a Goldman Sachs man an insider, unfortunately, we are not (I would assume)
Is it good to play it safe - Yes
Is it good to take profits - Yes
Is it good to believe what you are seeing in this 2008 recovery pattern, being played out as we speak.- Yes (imho)
Always up to you.
Lets see what happens
: )
Order cancelled:
Panic over i think the pattern has ceased to be followed, market too strong for now, since Biden win for many reasons : )