The Biggest Fakeout of All Time..
People are saying that this is the bottom, but in reality, as indicated by the FOMC results yesterday, Jay says that we still need an interest rate hike in the coming months. Also, the formation of a bottom in the SP500 never occurred when the inverted yield curve was at 0.5. Check it out for yourself if you don't believe it.
Levels to watch: around 4225 dollars, there is a small gap that is suitable for short positions because the fakeout impulse movement like this aims to grab liquidity. So it's difficult to predict when the market maker will decide to sell a particular equity, especially the SP500, in a situation like this.
Levels to watch: around 4225 dollars, there is a small gap that is suitable for short positions because the fakeout impulse movement like this aims to grab liquidity. So it's difficult to predict when the market maker will decide to sell a particular equity, especially the SP500, in a situation like this.