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.


sp'daily5b

sp'weekly6

Summary

*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.
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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.

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Looking ahead

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

.