sp'60min
Summary
Well, we know what the Fed did at the last meeting, and also know what they will likely do at the March'19th meeting.
Yet, as ever, the algo-bots will be looking to snap prices..one way or another on another few pages of fedspeak nonsense.
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More importantly though...
Trailer of the year...(so far)
A raccoon with a machine gun, whats not to like?
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stay tuned
2.02pm..twitchy market..but with underlying upside...
There doesn't seem to be anything in the Fedspeak that should please the equity bears. Indeed, an talk of 'appropriate change' in QE-taper..that is just bullish..at least for the very short term.
2.06pm.. Metals are selling a little lower, gold -$7.
2.16pm.. Hmm..the chop continues. Barring a break <1830...this is all noise before the next move higher.
Reading around..Ukraine....Japan/China.....urghh..its looking like a 'conflicted' summer ahead. Soon..it might be time to lock the bunker doors.
2.27pm... minor chop..STILL. Bears should be so desperate to break <1830/26, but that just looks overly difficult.
Where is the downside power?
From a geo-political perspective though, there are serious rumblings all over the place.
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2.37pm.. As has been the case for so long..years even....rather than be able to push lower..all the bears are able to do is flat line the market with minor 'weak chop'.
All the while..the hourly indexes have now largely reset, and are primed for another wave...into the 1860/70s..STILL viable by this Friday.