“The only bad time to buy real estate is later” cites investment wisdom. But, when interest rates soar high, real estate investments can and do hurt.
Last week FOMC reiterated its resolve to fight inflation down to its target 2%. Inflation has been stubborn and sticky. It has shown signs of trend reversal towards resurgence. Chair Powell’s made clear that rate...
Looks to me like the algos are going for the pump and dump.
Gap direction will depend on AAPL earnings though so I'll wait to see what happens. MFI probably hits overbought tomorrow either way
Not overbought yet. Looks like Monday will be a pump and dump day.
I guess I should have more faith in the market that they'll find a way to pump AAPL on bad earnings, lol. Not feeling very bullish because earnings didn't justify valuation, and my favorite stock, PCAR, is still dropping, lol.
WTF was that? LOL, Powell pump and dump in just one hour. I know I keep saying Fed days always whipsaw, but that was ridiculous.
Futures up a little on QCOM earnings, Europe might bounce overnight, sold of hard this morning, more whipsaw.
Anyways, it messed up the indicators, so no trading until things go overbought or oversold. Taking the rest of the week off.
Got stupid overbought and only a small dip today. I'll just wait it out and see if it cycles to oversold.
Decided to relocate so I've been busy trying to finish up projects at home. Don't really have time to watch the market.
I am bullish on NFP and expect prices to drift sideways the whole night up until 6-8am until 08:30 when NFP will release. It should dump down only for it to be bought back up and continue on to new highs.
I will show the last NFP's and show how all of them were...
Stocks have survived a standard Ichimoku cloud pullback and the bull run off Volume Profile support of 4979. Price has recovered up to the 50% Retracement (Kijun Sen) of the move down.
5148 = 50% Retracement Resistance and price this week is responding to it. The Volume Profile Resistance above it is 5167.
These are the levels to conquer to resume the 2024...
It appears that the S&P 500 price action indicates the market is adjusting to the outlook that interest rate cuts may happen later in the year. The expectation would be another day higher on Tuesday but not a large range. The estimate for the high would be 5225 to 2530.
