Well here we go again another speech by the Powell with questions from the audience starts at 1:30 est, has that feeling of Jackson Hole, we all remember that speech he re-wrote it 15 minutes before talking and just slaughtered the market. The last FOMC meeting when asked about the market rallying he was not happy even though it was actually going down. It’s a FED market this year it doesn’t matter about support or resistance, trend lines or moving averages when Powell talks markets react. So tomorrow I’m treating it just like a FOMC day we go sideways until he starts talking as we all are expecting it will go down break 390 and have a -2.50 day I highly doubt he’s going to pump the market. Todays mid day sell off was strong gave me a very nice day I’m just watching for highs and loading puts. The dollar looks like it’s ready to rip to so have a plan and stick to it, the trend is your friend until the end and it looks like everyone got ahead of the 200 day ma that’s why we didn’t hit it so let’s ride it down
As always trade what’s in front of you good luck
As always trade what’s in front of you good luck
