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$6050s cleared on #SP500 as discussed then we traded $6090 before selling then taking it out near the close. Tomorrow we have the FOMC meeting; they’re not cutting.
Anything Hawkish sells off these markets because these market participants in this era are addicted to ODTE, momentum and ZIRP and couldn’t tell you how any of it works so like addicts they look for their next hit to keep the high going.
Uncle Jerome and Co. are not providing that hit but they may hint at a little sample that keeps this rally alive.
If he cuts off the market with a reminder of 2 cuts only then we get some SERIOUS risk-off which I talk about in the video.
In fact, as you’ll see in the video, I hope that happens because we could get some nasty reversals tomorrow on QQQ 0.00%↑ and SPY 0.00%↑!
Plus some updated thoughts on NVDA 0.00%↑ levels earnings notes (if you are in DeltaOne, I will stream the call in the morning) - and a few other things on QQQ 0.00%↑ to watch then a quick AAPL 0.00%↑ note.
Congrats to those in the AST Swing long we closed today here. Brag to your friends and the ones that don’t listen and continue to lose money - make fun of them.
Tough love is needed sometimes.
There’s a video inside.
Dan
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