The secret to this market is to lower your expectation continually. Bulls do not realize they are sitting in the largest bull trap ever setup. Macro bottom still pending... it's more of the same: drop, consolidate, drop.
A wise Bera once said: Resistance is infinite and unbounded. When a level is broken, there will always be more resistance higher up. Support is not though, support is capped at 0.
Lehman Brothers filed for bankruptcy on September 15, 2008. The broader stock market did not begin its crash until a week later. Everyone initially thought Lehman wasn't a systemic risk. You say crypto crash can not crash stocks with a LAG? The doom loop is accelerating. Few understand this.
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Fed's Bullard cites policy rules, suggesting rates of between 5% and 7%.
Anyone hoping for a pivot or even a pause in rate hikes will be disappointed.
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In reference to the lagging crash, someone also brought up these good facts:
Enron went from investment grade to bankruptcy in 4 days. Lehman announced earnings Sept 08 & was bankrupt in 4 days. FTX/SBF went from hero to zero in 4 days. I know many think the same could happen to USD. How many realize it could also happen to EUR, JPY, GBP, HKD, CNY, etc?