The big question is how many times can the DAX bounce off of support before it finally caves in?
It's the selloff by the EUros that instigated this whole drop, and they've been bouncing all week, as has all the markets. At some point it's gotta stop bouncing and pick a direction right? Or maybe we just keep doing this until the Fed meeting, lol.
We've literally been alternating huge up and down days this week, which is about the whackiest thing I've seen on the market. Impossible to guess overnight direction at this time, but I think eventually we get another huge down move.... just a matter of when. If it doesn't happen before the Fed meeting, I think it will happen then.
Market already has more than 50 pt cut priced in already after the 50 pt emergency cut, if POwell doesn't oblige then we're looking at an epic tank.
The ECB can;t do much, they're already negative, lol.
It's the selloff by the EUros that instigated this whole drop, and they've been bouncing all week, as has all the markets. At some point it's gotta stop bouncing and pick a direction right? Or maybe we just keep doing this until the Fed meeting, lol.
We've literally been alternating huge up and down days this week, which is about the whackiest thing I've seen on the market. Impossible to guess overnight direction at this time, but I think eventually we get another huge down move.... just a matter of when. If it doesn't happen before the Fed meeting, I think it will happen then.
Market already has more than 50 pt cut priced in already after the 50 pt emergency cut, if POwell doesn't oblige then we're looking at an epic tank.
The ECB can;t do much, they're already negative, lol.
Uwaga
Warned everyone last week, it's welly below my target....
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