$SPY TOP 20
Added 2024-04-04 19:38:51 +0000 UTCTwo catalysts today have shook the market into aggressively pulling back.
Fed deputy boss has said that there may be a scenario that Rate cuts are not done at all this year if inflation does not come down further.....after these words were spoken, the entire market felt a ripple of negative sentiment.
Blinken also said that Ukraine will join NATO which may cause Putin to react to this.....as this was his main objection with Ukraine and why he says that Russia invaded.
Both catalysts combined is not going to be a bullish signal for the market today.
Let's see how the market reacts to finish the week with this news.
We spoke about the 1.27 Fib at the weekend needing to hold if the price action wants to go higher to the 1.618 Fib....but this is lost now and so is the 50 and 200 MA on the 1hr chart....so this is something I am watching closely
A rejection trying to get back above the 200 MA is something we need to be on alert for.
Comments
When several of your big position lose hundreds of dollars cuz the fed wants to throw a wrench at the market while you’re driving with your girlfriend back home that isn’t going to be to my advantage and Im not holding onto them after the fact and hoping for a bounce I’m cashing out with the profits they made me even though those profits weren’t what they were moments ago but thanks
Noah
2024-04-05 13:16:43 +0000 UTCuse the volatility to your advantage my friend..
Shantanu Prasade
2024-04-05 00:06:16 +0000 UTCWhat a bunch of pricks. They pump the market with no care for how it causes inflation and then suddenly randomly one day they just are like oh you know what? Yea so we completely change our mind on how We handle rate cutes and inflation. I cent be more disgusted right now
Noah
2024-04-04 19:54:50 +0000 UTC
