ES Journal - 2023/2024
- Thread starter Buy1Sell2
- Start date
Prior HOD held.
With the risk of stating the obvious - the market's breaking out.
50 could be that final hurdle, though. If that doesn't stall it, this should get even more squeezy.
@schizo 's always right!
Any thoughts on the FOMC reaction today? Non-event?
Maximum pain for the largest number of market participants.
Then a couple hours later, META earnings and possibility of a repeat (or the opposite mirror image) of yesterday's evening.
Hmmm. I think whatever he says is pretty much anticipated. Of course we'll get a bunch of spikes in either direction at 2PM et, but I think once he starts speaking, unless he hints at "still waiting on more data" for a Sept cut, we'll just drift with a slight upward bias into the close.
Now if he shocks the world and does a .25 cut today lol... blast-off. I seriously doubt that's gonna happen though.
So imo, there's nothing that will send us rocketing up, but there is a possibility of a down move. I think inflation is somewhat in check, but it's very fragile and could easily ignite again. He probably knows that so the degree to which he airs that, will determine the extent of any possible drop.