Short
Goosed!
The Fed is going to deduct 45 BILLION from the economy the next three months and then increase this hemorrhage to 95 BILLION thereafter. Instead of increasing the supply or spending to stimulate the economy through increased goods and service..they are stoking the hyperinflation environment by constraining supply.
They goosed both bulls and bears, this is how a bear market functions. Deceiving the bears to cover and bulls to stampede...this is classic. Absolute chop of huge down days followed by days like today are indicative of a crippling period about to repeat like 2008.
Instead of an imminent wave three down on Monday, that days action was a hammer candle to forewarn of a move of over 900 points up. We trade on probability, this was not expected to rise with such power...but it changes nothing to the bear market.
Now we have a clearer picture in that wave one down completed on Monday and an ABC corrective move is now in place...today was brutal for the bears, but serves a superb opportunity to sell the rally from here to perhaps 34350.
We have been short since late February and just hold position since....comfortable that this counter move will fade soon.
Gold and silver could have bottomed...early indication of a turn up.
Appreciate a thumbs up...Good Trading!
They goosed both bulls and bears, this is how a bear market functions. Deceiving the bears to cover and bulls to stampede...this is classic. Absolute chop of huge down days followed by days like today are indicative of a crippling period about to repeat like 2008.
Instead of an imminent wave three down on Monday, that days action was a hammer candle to forewarn of a move of over 900 points up. We trade on probability, this was not expected to rise with such power...but it changes nothing to the bear market.
Now we have a clearer picture in that wave one down completed on Monday and an ABC corrective move is now in place...today was brutal for the bears, but serves a superb opportunity to sell the rally from here to perhaps 34350.
We have been short since late February and just hold position since....comfortable that this counter move will fade soon.
Gold and silver could have bottomed...early indication of a turn up.
Appreciate a thumbs up...Good Trading!
Note
As bearish a candle as it gets today.An engulfing red sea of blood....prepare.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.