inverted H & S 19-24 May? might get a relief rally, idk. evry day it bulls on fed minutes or JPow speech it tanks the next day, eh.
hungry_hippo
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@DaddySawbucks, yeah but the market is oversold on the weekly now.... it has to bounce sooner or later
DaddySawbucks
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@hungry_hippo, looks like it might turn higher, buy the gapfill tomorrow imo
hungry_hippo
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@DaddySawbucks, I dunno. It's never a good thing when the market pumps bad news. Better to just stay out I think or fade the gap.
I think the big boys hit the buy button every time Powell speaks because it works during a bull market. We're no longer in a bull market....
Even teh Asian markets are whipsawing, looks like a reversal
DaddySawbucks
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@hungry_hippo, yes it is certainly uncertain. IMO a 5% rally is coming, maybe as much as 10%, 200-400 pips, idk.
hungry_hippo
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@DaddySawbucks, the 2 problems I see: 1) The next Fed meeting is too close 2) The market seems to only move up by pumping garbage and that's not sustainable
I think the market is going to whipsaw sideways like IWM always does. That includes up movement as well as down. FUnny thing this week is it's alternating up and down days, every pump is followed by bad news.
rickyrt
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looks like NVDA earnings not good down 7%
hungry_hippo
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@rickyrt, futures green anyways because Asians are pumping
mc_speculator
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prob fills those uppper gaps before we next leg down big... minutes weren't helping anyone other than more of "we gotta tame this shit and keep raising"