Wow! I did re-enter long and was instantly filled for 20 points profit in less than 5 seconds. My charts literally didn't update fast enough. That's a first. I use automated entry management in Ninja and have various strategies. I wanted to enter long again after that pullback proved to hold and used my 20 point profit target strategy which submits a limit 20 points higher or lower based on fill price. This is too wild for me, so I'm calling it a day here. Most likely I think this will rip higher as long as Friday's high holds, but I'm not interested in participating now as shown by current volatility. Huge profit potential and huge loss potential. I think I need to book a private appointment with @tiddlywinks to work on my discipline as I had a lapse on the overnight session, but lucked out getting back to breakeven by now.
This 3800 level is a major level, IMO, so if anyone is looking to sell into this rally, this would probably be the place to do so. Very easy to get ripped to pieces here if you don't know what you're doing. NQ is diverging a bit here, so that's not very bullish at the moment. Calling it a day here for sure. Good luck everyone.
Won't be hearing any further from The FED. They are in blackout period till next meeting Nov 1st-2nd. Curious that they squeezed in comments by end of last week. "Sowing the seeds ..."
So we get rumours and whispers instead until then. I very much doubt they will pivot. Inflation will go through the roof if they do, and they will have wiped out peoples portfolios for no reason if the markets goes straight back up again.
Having watched the video by Mark Moss, it is pretty clear that out of the two options available to the FED, QE and lower interest rates will resume. Not a question of if but when.