Nobody dares challenge me, because my choice of wrong calls is strong. At least B1S2 had a winning trade in the last 4 months. (I think)
Interesting action yesterday. I was not present trading it and am only now opening my charts. Did anyone track the news and PA in real time? Seems like there was a an immediate drop at 2:00 PM of around 12,50 points and an ensuing recovery. 39 minutes later shit hits the fan and we see a drop of 55,00 points in 18 minutes. Not your average market day for sure.
Federal Reserve drop interest rate yesterday and follow up with a conference. You need to beware of these important events as it will affect your the market greatly.
I hope everyone involved in the markets were aware of that much anticipated news release at 2:00 PM (which I referenced in my post) with the press conference starting at 2:30 PM. I was merely curious if anyone followed the conference/news and if there were any particular triggers associated with the drop starting circa 2:38/39 PM.
Powell was the trigger. He handed out some money...but not enough. Basically, he gave the market a lot less than they wanted. 25bps cut as insurance and not looking to get into a cutting cycle for now.
I don't understand why they would have expected that. As far as I can tell he said exactly what was written in most if not all of the media for the past couple of days. To me this is just an example of 'buy the rumor, sell the news', or am I missing something?