Thursday, 28 January 2016

Just another Fed day

It was a pretty dynamic day of swings for US equities. After a morning low of sp'1887, there was a very natural up wave to a new cycle high of 1916. Yet, the Fed press release gave the market the excuse for another whipsaw lower, with a late afternoon low of 1872.




*waiting for the first blue weekly candle, and in theory - based on many previous cycles, we could easily see 3-5 of them, before the next multi-week down cycle.

Suffice to add, the daily candle was of the bearish engulfing type, and that sure shouldn't inspire those who are currently long.

I realise many out there are getting bearish, but cyclically, the setup does not favour the bears.

Looking ahead

Thursday will see the weekly jobs report, Durable Goods Orders, and Pending Home Sales.

To wrap up tonight...

So.. how exactly should I reply to that message, which was subsequently deleted by the original poster?

I have tried... best I can across almost four full years to provide something at least occasionally useful, but clearly its still not enough for some of you.

Maybe I'll return tomorrow. Maybe not.