While most traders were on the edge of their seats for the Nov. CPI report on Tuesday morning
and the Fed Announcement of a .50 % hike in interest rates on Wednesday afternoon,
hardly anyone was prepared for the proverbial onslaught of selling that came Thursday,
after Wall Street "big money" decided 24 hours later, that their greatest concern, the cost of money,
would now be front and center for 2023, with interest rates to be held at current levels for a longer than shorter duration.
For the S+P 500 Index, that corresponded to a 220 point waterfall e
from Tuesday morning SPX high of 4100, ( Now Bearishly" Double Topped" on the chart
to Thursday afternoons low today of 3879, breaking the important Nov. Support Low at 3906 in the process.
Now you would think that "big money" might have seen some of this coming
The truth of the tape shows you that they did not.
They as much as anyone else were simply ambushed in their blind spot.
If anyone tells you that trading the "stock market" is the way to instant wealth,
make sure you dutifully remind them of the big money "blind spot"
never seen until it's too late ... just up the road a bit.
THE_UNWIND
12/15/22
Woods Of Connecticut
and the Fed Announcement of a .50 % hike in interest rates on Wednesday afternoon,
hardly anyone was prepared for the proverbial onslaught of selling that came Thursday,
after Wall Street "big money" decided 24 hours later, that their greatest concern, the cost of money,
would now be front and center for 2023, with interest rates to be held at current levels for a longer than shorter duration.
For the S+P 500 Index, that corresponded to a 220 point waterfall e
from Tuesday morning SPX high of 4100, ( Now Bearishly" Double Topped" on the chart
to Thursday afternoons low today of 3879, breaking the important Nov. Support Low at 3906 in the process.
Now you would think that "big money" might have seen some of this coming
The truth of the tape shows you that they did not.
They as much as anyone else were simply ambushed in their blind spot.
If anyone tells you that trading the "stock market" is the way to instant wealth,
make sure you dutifully remind them of the big money "blind spot"
never seen until it's too late ... just up the road a bit.
THE_UNWIND
12/15/22
Woods Of Connecticut