Need to be careful as we approach November. If the Democrats win the WH and take Congreff, the US will collapse shortly thereafter. Watch the charts intently.
I’m thinking we’ll have a pullback of some kind leading into the election and a relief/Santa Clause rally after the election is decided regardless of which party wins. And I agree with the election coming it’s important to watch price action closely moving forward. My strategy is playing “safe golf” until the election is over.
There's a sizable divergence between ES and NQ. Tread carefully. I see a big drop coming. Also NQ printing lower high ain't good either.
I would hope the FOMC puts the hammer down on all this rate-cut shit in a week. The market is getting way ahead of itself if Powell spews a bit of pain like "We're gonna' wait a bit." Too far too fast. Bunch of mugs I tell you, these dumbfucks who thought they would be cutting 6 times in 2024. Just DUMB!
I agree, but I feel the FED looking at PCE and CPI as a static number is missing the biggest issue economically for most Americans. Years of higher inflation is compounding in nature. So ok great you get “inflation” back down to 2% but that’s after it’s been compounding at a higher rate than that for x amount of time… they’re not looking to get average inflation back to 2% which would actually take deflationary measures. At some point all these companies who’s profits are derived from consumer are going to have to take a haircut cause quite simply, there’s too little money in most hands and too much money in too few hands. I don't believe the 1% cannot support the consumer portion of the economy on their own. All of this is immaterial to trading though and I don’t wanna derail the thread. Chart in front of me, day by day.
darn, 5200 didn't get filled and bounced back, let's wait for the moneyda drop. i think tech has top out for the moment. inflation is coming back.