The "Follow the Fed" Bullish mantra which has been ingrained into all investors and traders psyche's like clockwork
has this time failed the consensus badly as the S+P 500, has rolled over,broken a bullish descending wedge pattern,
and has now fallen 200 points, ..in less than 4 trading days.
The almost complete reversal of fortune is telegraphed by the speed of the decline.
Complacency has a way of catching up with the market when the consensus is so very one sided.
The move down from the peak at 3429 on Fed meeting day has simply caught
the bulls in massive bull trap that has completely blindsided the majority.
Whether this one sided belief in the Fed's cookie jar was the real fools gold,
will be quantified in the days and weeks ahead.
However next time you hear a bullish market guru say "Don't Fight The Fed."
perhaps now you will think twice,before accepting that bullish mantra coverall... ever again.
THE_UNWIND
SEPTEMBER 21,2020
has this time failed the consensus badly as the S+P 500, has rolled over,broken a bullish descending wedge pattern,
and has now fallen 200 points, ..in less than 4 trading days.
The almost complete reversal of fortune is telegraphed by the speed of the decline.
Complacency has a way of catching up with the market when the consensus is so very one sided.
The move down from the peak at 3429 on Fed meeting day has simply caught
the bulls in massive bull trap that has completely blindsided the majority.
Whether this one sided belief in the Fed's cookie jar was the real fools gold,
will be quantified in the days and weeks ahead.
However next time you hear a bullish market guru say "Don't Fight The Fed."
perhaps now you will think twice,before accepting that bullish mantra coverall... ever again.
THE_UNWIND
SEPTEMBER 21,2020