Bad inflation news or not, the algos won't be denied, lol.
Expecting it to go overbought tomorrow, and reverse for a dip on Thu. I was busy doing other stuff and missed the pump, just staying cash. Would've been a lot easier if it the same thing as last month and gapped down big, this morning was a bit tricky, wasn;t sure what it was doing.
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The market is funny sometimes, just imagine someone thinking inflation is up, I need to buy BYND, lol.
But anywas, algos gotta algo, probably a pump and dump tomorrow
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Not really sure what happens next Wed when the Fed meets, the Village Idiot (Powell) was talking about rate cuts in his testimony in front of Congress.
The idiot really needs to be talking about more hikes to squash inflation, but we've heard him talk about "deflation" before. He is bar far the most incompetent Fed Chair in my lifetime. Keep in mind he;s a lawyer, not an economist.
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Looking at futures it appears that pump was by the Euros, no idea why. Doesn;t look like the US market is gonna follow through on it.