nothing new out of the fed today. Just more free trillions and making wallstreet happy. https://www.cnbc.com/2020/07/29/pow...-it-can-while-it-considers-its-next-move.html
Of course it does. Its worth repeating every step of the way..it needs to be continually known that the fed is 999999% backstopping every tiny micro ounce of gains in this market.
we don't care whether fed will back stop front stop side stop or back go front go side go the markets. we just focus on charts because we know market will move.
Market today appears to be "front-running the Fed". If they say positive things about economy or anything else.... YEAH! Something is getting better! If they say reference anything negative... then YEAH, more Fed stimulus! It's a "can't lose market"... unless you sell or short something.
When you've thrown Trillion at it, I guess you've just got to keep throwing Trillions at it for ever or until country goes bankrupt. I was down slightly, Long NQ +35pts into the close 5:15ET close, Fed always buy into the close, never fails.
Technically after the close before the 15min break, not always, but often enough to get me out of the red This week anyway!! Depends on if the Fed is trying to push up or not on the day I guess.