Fed chicken didn't have the guts to pull the trigger

[MKTrader]

Until the next FOMC meeting expect to see weaker economic data, this will give the FOMC cover to do nothing. However if crude oil keeps rising, that will make it more difficult for them to wait. It's all rigged, just think like a crook and you to can figure it out.

Rate cuts do a lot more damage to stocks/bonds/RE than oil, which is more of a policy issue out of the Fed's control.

 

[SunTrader]

Bugsy if you shorted S&P you're a smart man.
Between 12:20 and 13:00 ES futures ran a volatility contraction pattern, then blew to
the upside over 100 points. Few minutes later reversed down another 200+ points.

Thank you Mark Minervini

Do you mean ticks (100 & 200), not points?

 

[The_Krakenite]

 

[MKTrader]

MMT Economics? Please tell me that's a parody channel.

 

[Bugsy]

Do you mean ticks (100 & 200), not points?

A point is 4 ticks, but I think you are correct in him using points here as ot only ran up about 20 to 30 points initially iirc.

 

[SunTrader]

A point is 4 ticks, but I think you are correct in him using points here as ot only ran up about 20 to 30 points initially iirc.

The point of my question.

 

[mikeriley]

Hi SunTrader,
Sorry, I trade stocks and futures and tend to use dollar value as points.
$1.00 = 1 point.
I've never used the tick version when trading.
Futures calculator I use also uses points.
https://www.danielstrading.com/trading-resources/futures-calculator
I believe that was ES on Wed. It dropped in price 4425 to 4298