The Fed meets tomorrow with their latest goosing. Our suspicions are that they will not hike more than 50 points which will rally the market initially. Their view will be to continue hiking at 50 points which will be sufficient for reality to kick back in the bear.
They are truly trapped...deliberately stalling raising rates to cause hyper inflation and then too cowardly to hike properly as the economy slides...all their making.
We have a probable scenario about to unfold....the channel trendline was again touched today for support. This has the look of wave 1 of 3 down about finished and to be followed by a small wave 2 up by the Fed. There is an open gap from Sunday's futures at around 31400ish....would not be surprised for a volatile spike.
Once this minor rally fizzles....reality will grip the markets and a capitulation move will occur.
Multiple degrees of wave threes down...this will be ugly.
Should the Fed surprise us by 75 points, batten down the hatches.
Appreciate a thumbs up...Good Trading!
They are truly trapped...deliberately stalling raising rates to cause hyper inflation and then too cowardly to hike properly as the economy slides...all their making.
We have a probable scenario about to unfold....the channel trendline was again touched today for support. This has the look of wave 1 of 3 down about finished and to be followed by a small wave 2 up by the Fed. There is an open gap from Sunday's futures at around 31400ish....would not be surprised for a volatile spike.
Once this minor rally fizzles....reality will grip the markets and a capitulation move will occur.
Multiple degrees of wave threes down...this will be ugly.
Should the Fed surprise us by 75 points, batten down the hatches.
Appreciate a thumbs up...Good Trading!
A spike up has already fizzled...weaker futures point to a down day and more.