Fomc is at 2pm today. Many are expecting a rally, and that could be - but be careful of a pump and dump. Another option is it just dumps to 3700 quickly which for me would be a buy zome. Bonds may be close to a turn and Powell may signal something dovish to that market today, Wheat looks good and now we are expecting pullbacks to be bought, Gold also looks good for a rally and DXY looks ready to pullback soon. BTC also holding support at that 19k level.
Good luck!
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wheat holding support
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If no bounce, expect a rush to the exits - 3700 area would be a buy
"Bonds may be close to a turn and Powell may signal something dovish to that market today..." - Same information different interpretation. Jackson Hole market move is a known fact. I could be missing something, why would Powell say "something dovish" today?
the_sunship
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@orange369, it was more technical that anything. I don't know why the market behaves the way it does, TYX is pulling back and looks like a reversal candle, so bonds will likely rally if that reverses.
orange369
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@the_sunship, all good. you didn't answer my question but all good. Perhaps I didn't hear it, but no changes since Jackson Hole speech. in last 2-3 years a first Fed meeting index is likely to close in red, and day-traders (day-traders) bet index is going-up post conference. boom