Not a whole lot to update here, we're still where we were at yesterday afternoon. Same crap as yesterday but I didn't fall for the afternoon pump today. You remember what W said....
"There's an old saying in Tennessee — I know it's in Texas, probably in Tennessee — that says, fool me once, shame on — shame on you. Fool me — you can't get fooled again."
Lots of people still betting on a triple hike, it all comes down to the Fed meeting. Best guess for tomorrow is still a whipsaw day.
If Powell actually goes triple hike then we'll see teh purple line break, but I would assume a double hike and rally to fill the gap above. It's all about the Fed.
"There's an old saying in Tennessee — I know it's in Texas, probably in Tennessee — that says, fool me once, shame on — shame on you. Fool me — you can't get fooled again."
Lots of people still betting on a triple hike, it all comes down to the Fed meeting. Best guess for tomorrow is still a whipsaw day.
If Powell actually goes triple hike then we'll see teh purple line break, but I would assume a double hike and rally to fill the gap above. It's all about the Fed.
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The real question is if Powell has any balls, if he did he'd go triple. But we all know he doesn;t....
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Keep in mind Powell has a lot of buddies on Wall Street, they might know something here....
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More whipsaw as promised, remember what GW Bush said...
I'm staying cash
I'm staying cash
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Algos will algo, that's what they do
Powell not only went 75 but said another 75 possible in July. Pumping bad news will not end well for the market, I think it breaks down below the purple line.
You'd have to be insane to buy stocks with 1.5% rate increase in a span of a month.
Powell not only went 75 but said another 75 possible in July. Pumping bad news will not end well for the market, I think it breaks down below the purple line.
You'd have to be insane to buy stocks with 1.5% rate increase in a span of a month.