My thinking/guess is, Powell's speeches before congress (today at 11 ET, tomorrow at 10 ET) could be a catalyst for increased intraday volatility. If his statements are hawkish (e.g. no more rate cuts / reduced asset buying) we should definitely see at least some short-term, increased volatility. If dovish, (expanded asset buying, potential further rate cuts in the near-term), probably continue to see the shitty RTH action as the market slowly grinds to new highs, resembling 2017. Either case, I expect some quick jolts in the market at 11ish today / 10ish tomorrow.
It isn't "zingers" imo, it will be how the word-by-word analysis will be perceived to be perceived by the public. IOW, the perception of will the media spin be able to sway. Like the change of narrative from quid pro quo to... (dramatic music for effect... dum dum dum) extortion! Plus there is Powell. I've never been good at trading the market based on what someone had for lunch, did they eat onions followed by a sprig of parsley, or if they ended the meal with burp and a trip to water closet. I'm only trading micros with micro size today.
Yeah I was thinking about this last night.... you guys will like this lol... and I ALREADY KNOW lol... its more than likely an exercise in futility but its free and easy... and fun... kind of... but I'm DVR'ing the testimony on C-Span and if we get any oddball spikes down today.... I'm gonna go back on the recording to that exact time and see if perhaps they corresponded to something one of these yoyo's said. Reason being... I just want to see if there are algo's out there set to trigger on something said that perhaps could be perceived as a game changer that we have not heard yet. "And what do you plan to do with that Zandy?" Well.... if we can get a day with a strong uptrend here in the next couple weeks, I feel pretty confident that any remarks made that might trigger that kind of selling will be extremely short-lived and the uptrend will continue. IE, if we all sudden get a 15 point drop on a remark when the tide for the day is set to rise.... buy buy buy!!!! Anyway.... I knooow. But hey, at least I think of stuff like dat.
My guess with Trump, as the heat is applied he's gonna become more and more irrational, to the point he will try and pull the whole shebang down with him and tank the markets, a kind of self emoleument.
Massive bull market that began Nov 1 rages on here. We had a little resistance at 3100. I expect that to be broken through and a new floor established there soon. ---Ish