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DJIA - The DOW was down 724, and THAT is scaring a lot of people. We have been expecting this and so far, it is what it is. At this point I am looking at us on day 27, markets can fall further, watch for support at the 200sma. It CAN BE BROKEN in a shake out, we wont be buying without a swing low in place. I will discuss my experience in later reports.
Read More At times, subtle changes can lead to bigger changes. Yesterday some of the 'subtle' changes that I had mentioned in recent reports suddenly look a lot more important. Let's discuss some FED DAY changes that may have taken place...
Read MoreWell, its our first Fed Decision with the new chairman Jerome Powell. One has to wonder if the Markets are going to be jittery, the way they did the first 2 times that he spoke, or will they rally on the news? He was sworn in on Monday Feb 5th, and the week leading up to his being sworn in, the markets crashed. On Feb 27, when he testified before congress, maybe it was just a coincidence, but the Markets did not seem to like it at all and dropped too. Let's take a look...
You can see on the chart that on the week leading up to Feb 5th, the markets crashed down. Then, as shown in this headline, when he testified before Congress on Feb 27th, Markets sold off then too.
DJIA - On the week leading up to Powell being sworn in, The markets crashed. Then FEB 27th started a 4 day sell off after he gave what that headline called ' A cheery note on the economy' 🙂
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