well I think we will be between the high we just set and yesterday's close, at the FOMC...
could be wrong...
I'll be curious if we sell off after fomc... Fairly universal Bullish bias in sentiment, but it could take a leg up to Really convince everyone.
I think people were more optimistic about adp than the morning numbers, I think there also is some "hope" for a better NFP this friday.
But to be clear, I'll suspect a Bearish move post FOMC today... but nothing would surprise me.
24 comments:
UUP right back down to 22.53 support. Will it bounce?
Short covering rally a bit, maybe some buying.
Materials relatively stronger with dollar pullback...
financials relatively weaker going into FOMC. Maybe a little SKF here.
Bingo.
I would doubt a larger pullback on UUP..
I just had a dream that I was sent to assassinate "Beaker"
I think the FOMC is behaving like Fridays, where people just don't want to be short into it.
Who's Beaker? John?
UUP is holding up like a solid support... I can't believe it will collapse after the FOMC, but geez I've been wrong before.
I replied to your buddy John-- I was going to ask him why he would "sell" his short positions (whatever that means) on a news spike, but why bother.
It's just behavioral, the other 3 times we have done this the market has reversed, so he is running the same playbook. Looking for one call to make himself a hero and validate all his moronic shit...
Like the QB who fucks the whole game and lucks out on "The Bomb", 'I WON' he says. "No, you are still an asshole.
Beaker is Dennis Kneale... it's just not good to publicly post possible deaththreats, when it's more amusing dream about how I watch too much CNBC.
OK, Kneale. Yeah, he just remarked on Cuomo's suit against Intel and commented that "it was all BS", or something along those lines.
It would hold more weight if he had actually read the charges and could elaborate why it "all BS", but then that would entail actual journalism. It's much easier to just run off at the mouth about something he knows nothing about.
Why is Kneale still on TV?
Banks? Sell the news or relief rally? I doubt it will range trade and we should break high or lows of day... I'm tempted to set buy and sell orders on high and lows of day to play the breakout or breakdown either way.
we will break one way or the other.
but will it be a one day move....
I'm on a bearish bias... but short term is hard.
XLF right back to the 20-ema on the 5-min. lol.
There goes the buck.
remember what I said about a level like that. That it kicks out the shorts above it. Then comes back down and kicks out the stops on the Longs above it.
But the good Mamis trade is to catch it if it makes it back above.
Are you talking UUP or XLF?
UUP
gdx is doing the grail fail... short below 46.90
watch for the grail fail on the 15-20 and the 60-20 on the spx.
gdx, i was looking at the wrong chart. The 5-min has a 20-ema of about 46.80. NOt sure the grail will fail, tho.
I like the 60-min on the SPY, too.
This seems like it was just a nice 3 day upswing, off an oversold.
So what do we do tomorrow? Should I take my profits on SKF (in at 25.82)?
Prechter's on CNBC, btw.
I'd say down bar, I'm not sure your position size but you can cut your position in half or 1/4, hold it in the Daily time frame(cover above today's high).
Then day trade tomorrow with the rest of it.
Thanks. I was going to take 1/3... sounds about right.
closing on the lows would suggest a higher open
what ever you can sleep with...
if you do the quick math, you want to maybe make a hundred bucks if it hits todays high tomorrow.... or end up flat..
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