Quad witching today which could/should affect trading. I would guess a run above 85 or a dump into the Close.
Some days are more predictable than others. Of course, some will say it's not possible to predict at all. Today is one of those days that by definition should be unpredictable.
Ahh, so THIS is why markets took a dive today. It's not just Bullard's comments, but this little extra tidbit.. "Bullard is not currently a voting member of the Federal Open Market Committee, the policy setting committee of the central bank, but he will be in 2022." This means we will have at least 1 Fed member voting to hike rates.
The "reasons" often seem ridiculous. USD, interest rates vs. the market. It makes sense. Decent week here for me. The loss is a thing of the past. EDIT: After taking the loss, I flipped short; only to take about 9 points of heat. That whipsaw ain't fun, but it worked out.
If you are going to reply to my comments, please do not truncate them to make me seem like I know what I am talking about. The following is what I typed in that first line of the post... "Ahh, so THIS is why markets took a dive today. It's not just Bullard's comments, but this little extra tidbit.." Thank you for your understanding.
And a dump it was - with continuation after the cash close. Only 2 % down from ATHs or so, so nothing dramatic yet, but should give a good range to play for next week - whether we'll see expansion higher or lower. Plenty of great short opportunities lately.
Seeing 600 points down on the Dow is kinda' exciting. Like we're in last year's beast mode of bears. For how long will it last?