A TRADE SETUP FOR NEXT MONTH... WAIT UNTIL AFTER THE INTEREST RATE ANOUNCEMENT AND FOR THE PRESS CONFERENCE. SOMEONE ALWAYS ASKS POWELL A LOADED QUESTION AND AS SOON AS HE ANSWERS THE PPT GOES FULL BLAST.
ALSO, WITHIN A MINUTE OF THE PPT PUMP THERE IS A CRUSHING DOWNTICK THAT TRIGGERS STOPS FOLLOWED BY A SUDDEN SHARP REVERSAL. THE DOW GAINED 700 POINTS IN LESS THAN 15 MINUTES.
NEXT TIME I WILL BE WATING FOR IT. THIS IS WHAT HAPPENED LAST TIME AS WELL.
THE DIFFERENCE TODAY THE BUYING COULD NOT BE SUSTAINED AND A GOOD PORTION OF THE GAINS WERE GIVEN BACK BEFORE THE CLOSE.
I EXPECT THE DOWNTREND TO CONTINUE.
AT LEAST I SOLD YESTERDAY ANTICIPATING A DEAD CAT BOUNCE TODAY AND I AM BACK IN SQQQ AT A LOWER PRICE.
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