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hungry_hippo
Mar 14, 2024 4:11 PM

ES Update 

E-mini S&P 500 FuturesCME

Description

MFI hit oversold as predicted, same with NQ. RTY is a bit interesting, RSI hit oversold but MFI didn't.

Not sure which way the market gaps tomorrow, but it is Ponzi Friday, and it looks like the market wants to pump going into the Fed meeting because Powell told Congress last week that he's cutting rates. It's the Village Idiot rally, lol.

Comment

I'm beginning to wonder if the Village Idiot is doing it for political reasons, and trying to pump the market for Biden. I'm sure he prefers working for Biden and not Trump.

If that's the case, expect the rally to continue until November.

Comment

looks like another bear trap setup for Ponzi Friday, lol

Comment

So I bought PCAR stock yesterday, no idea why it jumped $3, but I'll take it, lol. Had 1k shares, made my money for the week, I'm done.
Comments
jordandotdev
That's kind of the sentiment I've been hearing on podcasts for weeks- also the trope that once the fed pivots, then the market tanks! If they don't cut in July, though, real hard-pressed to start a cutting cycle 90 days before a presidential election and not call it political!
hungry_hippo
@jordandotdev, they won't be able to cut in July.

I think they pump the market by promising rate cuts, but not actually cutting rates, lol.
Faux_Pas
It does seem like Biden needed a good talking point with like a 30% food and energy inflation since he took office
Jianto
Yeah it might go up or get stuck tomorrow as it's ponzi friday
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