Take a look at the ER2 from 12:15 on. Hey were going up, no that's wrong, wait a minute that's right, no it's wrong. My god look at those range bars. Holly sh*T! A broker's dream come true. I was taken to task for claiming that there was choppy regular and choppy erratic markets. This pm in the ER2 was a perfect example of what i mean by "choppy erratic." In the end, i imagine the only souls left were those addicted to gambling. I'm out of here (2:30 pm EST).
lol... this market is very weird , FED lowers forecasted growth and we close green .. not only that the futures are green right now as well.
ES was choppy erratic for about an hour today. After I lost on the first chop I did not enter again until it settled down. I hate that kind of market because it takes out the low and then takes out the high and continues the process for what seems like an enternity.
Because if the fed lowers the growth forecast that means they are more likely to lower interest rates further. Lower Rates = easier money = Stock Market Green
And if it had gone down, people would have said well they lowered forecast, hence it went down. Market will go where market wants to go. One can always come up with a reason to justify why it went a certain way after the fact.
I don't think thats true. They would have said it went down despite the feds comments. Its basic economics. If the fed says, or even mentions inflation pressures next time, the market will be red. (in OP words)