Momentum Journal

[meanVelocity]

This will just be a thinking aloud and chit-chat thread.

Starting off... This has been a most exhausting day to be on the bid. The market has just been struggling with breaking through the pivot here at 1988 SPX(Cash).

I am cutting my longs here. Rise is just far too slow... Probably won't get a serious rally until after the fed announces they are not ending low interest rates.

 

[meanVelocity]

It's just frigging exhausting holding position during slow rises... Ran out of mental stamina.

The bull market trend is unbroken in the big picture, but if we don't regain 2050+ within a month, things could start to get bad...

Kinda looks and feels like late 2007 right now.

 

[meanVelocity]

That was a confusing fed statement... By the market action you can tell everyone is a bit confused right now.

Everyone needs to sleep on it. Not a instant bullish market turning event. Fed is adopting a interesting stance... I would interpret it like this. "If markets collapse, we keep rates low and are supportive, if markets rally strongly... We raise rates."