Quote:
Originally Posted by biosurfer1
So you have one thread saying the market will surge since the Fed said nice things, now you are claiming we're dropping to 2000?
You should be on TV with accurate predictions like those!
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I said the Dow surged 400 pts on Dovish comments by the Fed..which indicates that the power lies with the FED and not in the political process anymore. And I didn't want to hear anymore stupidity about it.
Read critically.
I raised a red flag in late June about the psychology of Equities chaging when Powell raised interest rates and Equities sank. I had a wait and let's see attitude. Equities have become increasingly choppy since then.
Recently I have said there is an uncertainty and confusion that has caused traders to hesitate from piling back in, now it is a wait and see attitude. They are protecting the money..
We have bounced off 2585 which was a bit above the 2581 low in Feb. We will see what today's close is...today could be the low and a rally follows??? Or if we break lower than 2581???
Below 2581 well your next stop would around 2100. That's why I say 2000. I watch support levels as psychological bench marks.
As I said the animal spirits talk to me and they are scared of falling off a cliff today.