We are on the border of the ...swampzone
We seem to be standing on the edge of the swamp not sure whether to jump in ....lets see what happens this evening.... it's so exciting 😆 😆
We seem to be standing on the edge of the swamp not sure whether to jump in ....lets see what happens this evening.... it's so exciting 😆 😆
S&p 500 cash
There is a wad of resistance in the 1485-90 zone...... June lows .... 62% of the slide to name but two.... so I expect it to be hard work to get through ... but it might....
Dow watchers may still want to watch 500ish if 430 is taken out... but they don't need me to tell 'em 😆
Oh..... s&p tends to give you more bang for your buck more than the mere 10% difference would imply...
if dow 13400 and Spx 14800
There is a wad of resistance in the 1485-90 zone...... June lows .... 62% of the slide to name but two.... so I expect it to be hard work to get through ... but it might....
Dow watchers may still want to watch 500ish if 430 is taken out... but they don't need me to tell 'em 😆
Oh..... s&p tends to give you more bang for your buck more than the mere 10% difference would imply...
if dow 13400 and Spx 14800
On SPX 1503 is possible...even as high as 1510 which would complete H&S reversal...still way to much volume at August lows,which exceeded March lows by a fair margin.In my book this means a retest at least...
Good to see you back m8
Yep I see those Steve ....
Famous last words but I'm starting to think the retest may be a shallow one..... I don't know what's going on any more........ 🙄
I know as if I ever did in the first place 😆
Yep I see those Steve ....
Famous last words but I'm starting to think the retest may be a shallow one..... I don't know what's going on any more........ 🙄
I know as if I ever did in the first place 😆
keep an eye on NDX...thats now hit it's first target of 2024...if we don't turn down here it can run to 2054 and will pull the others with it
2024 was the 1:1 expansion on the W formation...a good entry..slightly disconcerting it got to 2032 y'day if short..
Dinos
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I staying flat today until after the FED’s Beige book at 18.00 GMT (FED’s overview of the US economy) A cut will see the market continue as we are now as is it already priced in. No interest rate cut will be carried through and stock markets will decline – probably very significantly.
Deutsche Bank have said the difference between the FED funds rate and the 3-month interest rate normally lis 10-12 basis points, but currently is 80 basis points, indicating serious liquidity problems in the money markets, which if not solved will drag U.S. into recession. Therefore, the FED needs to cut the interest rate in order to avoid a recession, ifhowever, the Beige Book doesn't points towards an interest rate cut, the markets will decline.
I'm out for now.
Deutsche Bank have said the difference between the FED funds rate and the 3-month interest rate normally lis 10-12 basis points, but currently is 80 basis points, indicating serious liquidity problems in the money markets, which if not solved will drag U.S. into recession. Therefore, the FED needs to cut the interest rate in order to avoid a recession, ifhowever, the Beige Book doesn't points towards an interest rate cut, the markets will decline.
I'm out for now.
shortorlong
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Useful post Dinos, I know naught of beige book's , time for a cup of coffee:cheesy:
dinos, go to www.thestreet.com/-tscnav/market/databank/10325765.html.....hold arrow over market and go down to economic calender click,click beige book and see explanation the dash in the address before -tscnav is supposed to be an underline bar before the tsc so it might not work
