ES Journal - 2021/2022

Buy1Sell2 said:
Here's my 2 cents----The Fed cannot control inflation by raising interest rates, they can only destroy the economy by doing that. The only thing that can reduce inflation is the government spending and distributing more money. Perhaps Powell has some indirect influence there since they can create money.
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I don't follow your logic on this one B1. I thought increasing the money supply would PROMOTE inflation.

:confused:o_O

I agree with the first part though, increasing rates doesn't DIRECTLY control inflation. It just promotes demand destruction. It is the demand destruction that ultimately affects prices.

just my opinion.
 
Buy1Sell2 said:
Here's my 2 cents----The Fed cannot control inflation by raising interest rates, they can only destroy the economy by doing that. The only thing that can reduce inflation is the government spending and distributing more money. Perhaps Powell has some indirect influence there since they can create money.
More...

100% agree. But they wont want to redistribute wealth ever. I even suspect that raising interest rates will increase the buying power of the rich which in turn could raise inflation further.

Not the best source, but I watched a youtube video where someone mentioned that throughout history the market usually goes down after a Fed interest rate pivot. Not sure how factual that is so trying to reasearch.
 
That's quite the roller coaster today.

Reversed off yesterday's Close/High almost to the tick.

Coming up against last week's high at 4055, so the key is to look for continuation above here or a reversal back down to the LOD from here. Clearing 4055 I would be expecting 4080.

If not, we might reverse and make a new LOD.

Trading wise I'm done for the day, so just watching the moves. :)

Argentina - Croatia coming up very soon, so my focus will be there. Go, Croatia!
 
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