The "short covering rally " continued today,
with the S+P moving all the way up to big 4000 Resistance.
With sentiment so bearish, bank failures you know can do that,
the stock market is doing it's absolute best to crush the shorts
prior to the FMOC Announcement tomorrow on interest rates.
Note the VIX getting hammered,down 10 % today,
and the sharp move down in Gold Futures
after trading above $2000 ounce,
and you have the "unwinding" of all those bearish positions
made to capitalize on a market dive following the Fed Announcement.
I have previously written
that traders be very careful about committing
to new money to the stock market right now.
Things are not what they seem...
SPX
1 PM OPEN TODAY 3978 48
THE_UNWIND
WOODDS OF CONNECTICUT
with the S+P moving all the way up to big 4000 Resistance.
With sentiment so bearish, bank failures you know can do that,
the stock market is doing it's absolute best to crush the shorts
prior to the FMOC Announcement tomorrow on interest rates.
Note the VIX getting hammered,down 10 % today,
and the sharp move down in Gold Futures
after trading above $2000 ounce,
and you have the "unwinding" of all those bearish positions
made to capitalize on a market dive following the Fed Announcement.
I have previously written
that traders be very careful about committing
to new money to the stock market right now.
Things are not what they seem...
SPX
1 PM OPEN TODAY 3978 48
THE_UNWIND
WOODDS OF CONNECTICUT