RTY MFI is oversold but ES and NQ are not yet. Market whipsawing already. I think the drop this morning had as much to do with FDAX getting overbought as it did with Powell. He didn't say anything new, lol.
Not sure I want to go long with unemployment numbers coming out Thu and jobs numbers Fri. Might just sit out the rest of the week.
MFI should hit oversold tomorrow, but with the numbers coming out we could see gaps down. That's gonna make for some ugly trading I think.
Not sure I want to go long with unemployment numbers coming out Thu and jobs numbers Fri. Might just sit out the rest of the week.
MFI should hit oversold tomorrow, but with the numbers coming out we could see gaps down. That's gonna make for some ugly trading I think.
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Oddly, the market is buying long term bonds on the "news", meanwhile oil and gold are down.
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I guess the village idiot finally realized he can't control inflation if he pumps the stock market, commodities move with the market.
Doesn't look like a "disinflation" speech, lol. Not sure if we'll see a pump before the Fed meeting now.
Doesn't look like a "disinflation" speech, lol. Not sure if we'll see a pump before the Fed meeting now.
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Small caps and gold are pretty close to testing last week's support...
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Looks like RSI and MFI might hit oversold tomorrow, watch for the bounce.
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My best guess is a reversal tomorrow, gap up Thu despite good unemployment numbers then double dip into oversold Friday. Something like that but it'll be a bearish whipsaw for sure.
More news next week with CPI and PPI coming out. With the village idiot now sounding hawkish, I'm not sure I want to go long, lol.
TBH, I wasn't quite this bearish, was expecting a dip, not a tank. Grabbed a few gold puts for next week, that's all I got. Maybe I'll get lucky and PCAR will gap down again, lol.
More news next week with CPI and PPI coming out. With the village idiot now sounding hawkish, I'm not sure I want to go long, lol.
TBH, I wasn't quite this bearish, was expecting a dip, not a tank. Grabbed a few gold puts for next week, that's all I got. Maybe I'll get lucky and PCAR will gap down again, lol.
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Also, 30Y bond auction Thu
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FDAX shows a potential for a gap down tomorrow, I don't recommend buying the EOD pump.
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1 & 2 yr yields went over 5%, commodities finally dropping now. this is what SHOULD have happened at the Fed meeting, but the Village Idiot said "disinflation" instead.
Never trust the village idiot, I'm gonna start calling him "Simple Jack" Powell. I think people were buying hoping he'd pump the market again, lol.
Never trust the village idiot, I'm gonna start calling him "Simple Jack" Powell. I think people were buying hoping he'd pump the market again, lol.
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Apparently the Village Idiot said the Fed might increase the rate of hikes if necessary, lol, just 5 weeks after his "disinflation" speech.
The most powerful person in the world economy should at least know that commodity prices move with the stock market, it took him over a month to figure it out. Simple Jack Powell inadvertently set a bull trap for retail investors.
The Dow is now red for the year, market is trying to price in .5% for this March rate hike.
The most powerful person in the world economy should at least know that commodity prices move with the stock market, it took him over a month to figure it out. Simple Jack Powell inadvertently set a bull trap for retail investors.
The Dow is now red for the year, market is trying to price in .5% for this March rate hike.