Please help me here - what does this mean exactly ?
Let's see what happens after the Fed speech. If he does not rock the boat, expect bullish moves for the moment.
These emotional and political factors seem to be encouraging this volatility. Many experienced traders that I follow are very concerned or are full bearish due to the "hard data" that has been released. The US gov leadership wholly denies there are issues -- but this is doublespeak a la Orwell's 1984 because many reports/numbers contradict the US gov leadership's message.
So, the market movements end up being based on beliefs. Beliefs that Trump will deliver trade deals. Beliefs that the Chinese economy will not impact the US because the trade between the interaction between the two countries is smaller than people think. Beliefs that the housing numbers delayed by the gov shutdown will be fine. Beliefs that the Fed will not make a policy mistake -- but good jobs numbers mean the economy is healthy and further rate hikes are ok ... right?
Emotions. Politics. Beliefs. Doublespeak.
This is a dangerous environment. Be careful with your capital.