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Last year it seemed like we were hearing about 4 Rate Hikes in 2018 and 3 or 4 more possible in 2019. Wednesday Fed Chairman Powell said that the US Economy is doing well, and no rate hikes should be expected in 2019. So now we will take a look at what happened to the markets after the Fed Decision and his speech, and then we face the question...
Read MoreToday is the FOMC Meeting , and even when the markets get a feel for what is going to take place, we often see periods of high volatility around the time of that decision, into the close, and possibly even into the next day. Let's just discuss the current market set ups...
Read MoreAs the clock ticks down on Wednesdays Fed Rate Hike Decision, let's discuss a few things to keep in mind.
Read MoreLet's discuss the bigger picture for the Markets, after a great week of trading...
Read MoreFinancial market movements can be erratic on days when options and futures contracts expire, especially on Triple Witching Friday. Today is that day. Along with that, I want to point out a couple of 'Cracks' that may be appearing in various parts of the Markets. When cracks begin to show up, it is good to take note and use a little more caution, because the strength of what is supporting things may give way. Let's take a look...
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SPX - The SPX is at resistance, as mentioned in prior reports. I also said that it could get choppy from here...
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SPX - The SPX ran up to that resistance line and pulled back. I mentioned that this might become choppy in my last report. We'll see.
Read More Some of the trade set ups that we have been reviewing are resolving quickly to the upside, so it may require pouncing on the set up before it breaks out, and it also may involve jumping off of the trade or cashing in, before it pulls back. Well, that is if you are in it as a short term trade. Some can be held for longer periods of time and allow them to play out. We will discuss that at the end of the report. Let's review the markets.
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SPX - The SPX closed above the 10sma again, but it is also back in that resistance area. It got choppy here at the end of February, and that may happen again if it can't break through resistance. The MACD is not breaking as strongly as price- usually indicates short term choppy.
Read MoreThis is a long weekend report, but I want to discuss a few reminders pertaining to The Precious Metals sector, so lets dig right in...
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SPX WEEKLY - I was expecting a drop in the general Markets, so I went short. The Jobs report was a HUGE miss, but the selling actually started before that report was released. As you can see, we got a big 1 week drop. Prior drops like that usually were not isolated '1 week wonders', so we may get some follow through selling to the 10 weekly MA.
Read MoreWe have reached the last trading day of the week again. Let's see how things have been playing out...
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