Will Powell bust a move tomorrow?

SoyUnGanador said:
This is what I think. Powell wants that shit to tank. So even if they do 25 points, he will almost surely say some shit about future risks, inflation not beaten yet, have to stay vigilant, more rate hikes likely to come, etc. etc. to get market to move down again.

Still, unless the economy tanks more than expected, I think the move lower will be short lived.
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Wow!! Never expected that he would say deflation has started. Look at the rally!!
 
Buy1Sell2 said:
Current trend is up, so I'll stay long for now.
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lol dude is long from 4400. Did we miss something? Was this a trade reco? If mkt had dropped you would've have shown up in your time machine to tell us that you had conveniently shorted 5 mins before the rate decision.

You are such a fraud.
 
Innervoice said:
Will Powell bust a move tomorrow and throw in some hawkish commentary that disappoint markets? Kind of like when you bring a hot girl to your house when you were in high school and your dad comes home from work early..
Personally, I dont think the fed likes the strong rally we have had. The rally enhances “ the wealth affect and makes consumers more likely to spend money . A stock market rally can be inflationary. Not a one day rally but the month long rally we have had.
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Thanks for the fade.
 
TheDawn said:
Will Powell bust a move tomorrow?

-No. He will stick with the script and hike the interest rate up by 25 basis points as planned. He might reiterate his strong stance on stamping out inflation but he will introduce phrases like "he will carefully monitor the state of the economy and will adjust accordingly"
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You were right on!
 
TheDawn said:
Wow!! Never expected that he would say deflation has started. Look at the rally!!
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Yes, he said the right things and it took off. Look at Q_Nine's thread Ken's Market Krash, I LITERALLY called the rally minutes before it happened LOL....
 
SoyUnGanador said:
Yes, he said the right things and it took off. Look at Q_Nine's thread Ken's Market Krash, I LITERALLY called the rally minutes before it happened LOL....
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Today was highly predictably was an exact repeat of what occurred in Canada last week except our central bank specifically said no more hikes moving forward. Many traders simply don't pay attention or see everything through a bearish lens. Calhoun for example at noon said he liked VXX and SOXS. VXX dropped at least 4% rest of day and SOXS dropped a whopping 16% today.
 
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MathTeacher said:
You were right on!
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SoyUnGanador said:
Yea, the Dawn nailed that! How he magically knew Powell would tone down his words this time around, unlike the previous 20 times, I have no idea LOL.
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I think that was the consensus. The market didn't move much until a little after 3:00 PM when he said there are actually some signs of deflationary pressure. That was a surprise that people didn't expect so the market spiked up. The Fed is getting really predictable now. I think they have a whole database of pre-written announcement statements there and depending on the economic statistics, they just pick one that they think fits the situation the most and read it out aloud. LOL

The crux of the question is: how are we going to trade it? SPX spiked up and took out the 4100 level yesterday after Powell made the surprise announcement about deflationary pressure in some sectors and today the rally is continuing but as of right now, it's meeting some resistance at 4180. It's been trying all morning so far and still hasn't broken it through. Is it going to break through it today? Only time will tell. The real level to break through imo is 4200. Once the SPX closes above that level and stays above it then we can say with a bit of confidence that we are officially in the bull territory.
 
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