Market still showing indecision, today's retail and production numbers decreased the chances of a rate cut. Market already has 2 cuts priced in so chances are pretty good that the market is not going to be happy when the dot plot shows only one this year, lol.
Be ready for a huge whipsaw on Wed. If the market moves up Mon/Tues, I might go ahead and buy puts before the meeting. Doesn't make any sense for the Fed to cut rates when the economy is still growing.
Best guess is that the market waffles in between 2875 and 2910 until the announcement. Today's "good" news actually prevented a breakout. Kinda messed up when positive economic data causes the market to go down and vice versa.
In any case, low volume on futures after the failed pump and dump last night. I don't expect a big gap in either direction Monday.
Be ready for a huge whipsaw on Wed. If the market moves up Mon/Tues, I might go ahead and buy puts before the meeting. Doesn't make any sense for the Fed to cut rates when the economy is still growing.
Best guess is that the market waffles in between 2875 and 2910 until the announcement. Today's "good" news actually prevented a breakout. Kinda messed up when positive economic data causes the market to go down and vice versa.
In any case, low volume on futures after the failed pump and dump last night. I don't expect a big gap in either direction Monday.
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Futures were up big earlier this afternoon, appears to have reversed. No idea where we're gonna open, I guess we'll all find out when we wake up tomorrow.
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Odd action today, pump failed again overnight but they decided to pump futures after open for some reason. Note how FAANG stocks were the only major gainers today with the NASDAQ pump.
We've got 2 rate cuts priced in for this year, and I'm sure the dot plot will show one or maybe even none. That will tank the market Wed. Pay attention to the Fed dot plot, it's the only thing that matters this week.
We've got 2 rate cuts priced in for this year, and I'm sure the dot plot will show one or maybe even none. That will tank the market Wed. Pay attention to the Fed dot plot, it's the only thing that matters this week.
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Despite market weakness all day, the computers still bought huge in the last minute so potential for another pump and dump.
If they manage to pump it tonight, chances are good they'll try again Wed, then the Feds crash the market with their dot plot.
If they manage to pump it tonight, chances are good they'll try again Wed, then the Feds crash the market with their dot plot.
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Algos gotta pump. Up 4 pts since close, we'll see what it does overnight. Could see another pump fail or a gap and tank... who knows. Hard to predict the market when it drifts sideways with no direction.
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Pumps aren't working tonight, we'll see what the EUros do tonight.
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Huge Euro pump on EU rate cuts, wow. Pumptardedness going into a recession..
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Not buying into this rally, volume is extremely light across the board. Expect one final pump tonight by the Euros and a tank tomorrow on the Fed dot plot. The market has now fully priced in 2 rate cuts, and I doubt the dot plot shows 2.