As USDJPY sniffs at 142 again, here are retracement levels for 161.93-139.57 using our Fibonacci Calculator</a>
US500 4 HOUR CHART – New High Then….
It seems more logical for caution TO set in after setting a new record high given early price moves seemed to be driven MORE by money market pricing shifting in favor of a 50bps Fed rate cut than the actual event.
In any case, it is still more than a day until the Fed decision so expect defense more thaN offense to dominate until that time.
I suggest reading the articles in our blog for a view on whether the Fed will cut by 25 or 50bps.
GAP DLRx 100.5x
on the grander scale of charts, still looks weak.
But in the s/term, I am interested the GAP”s closing
yeah ! …”As anyone trading also knows, markets move when there is a surprise in a news event vs. the consensus forecast.”
IF you look at the Swaps pricing for wednesday u d see that playrs are leaning towards a bigger cut. but u would also notices that it is a wishi-washi conviction.
Bottom line is that
– some will get smashed on wednesday which will likely manifest itself by displays of volatility.
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