1.Fundamentals of growth are good.
2.Q2 est. 3.8% growth
3.Q3 growth tracking @ 3.9% growth
4.Projections of $45/barrel oil in 2026
5.Many other favorable reasons
On the other hand
Jerome Powell and the Federal Reserve say that they focus on supply-demand balance: when demand outpaces supply prices go up, and we have inflation. Therefore, so they conclude, we must keep interest rates high so people can't afford anything.
Common sense says if you lower interest rates the money necessary for production will be less expensive, the supply will increase and prices will go down, as will inflation.
Their view of ''supply-demand balance'' sounds like nonsense. I think common sense wins every time.
The chart appears to be building a new base from which to head upwards. I'd like to see it go lower, but my Breakout trades are in place and I'm ready for the Breakout if it happens here.
If this does become a new base, barring a Black Swan event, we should see a new high soon.
2.Q2 est. 3.8% growth
3.Q3 growth tracking @ 3.9% growth
4.Projections of $45/barrel oil in 2026
5.Many other favorable reasons
On the other hand
Jerome Powell and the Federal Reserve say that they focus on supply-demand balance: when demand outpaces supply prices go up, and we have inflation. Therefore, so they conclude, we must keep interest rates high so people can't afford anything.
Common sense says if you lower interest rates the money necessary for production will be less expensive, the supply will increase and prices will go down, as will inflation.
Their view of ''supply-demand balance'' sounds like nonsense. I think common sense wins every time.
The chart appears to be building a new base from which to head upwards. I'd like to see it go lower, but my Breakout trades are in place and I'm ready for the Breakout if it happens here.
If this does become a new base, barring a Black Swan event, we should see a new high soon.
Uwaga
The breakout we had last night went too far too fast. That is why I'd like to see it go a little lower before it breaks higher. I would love to see it bounce in the 24750 - 700 area.Uwaga
The Breakout that started Sunday, 9/28 and ran through Monday, 9/29 about 10:15 made many people a lot of money. Can't wait for the next one.Uwaga
I need to beat the horse some more. It isn't dead yet. We say cause and effect, not effect and cause. We say the law of supply and demand, not the law of demand and supply. If you change the order of the words, you change the meaning. Whether done innocently or intentionally, the truth becomes a lie.The fed uses their power to influence demand. In doing so, they are subverting truth. It is also wrong for them to influence supply. They should stay out of the way. The law of supply and demand is something the markets achieve normally and naturally, free from government interference.
Government's chief reason for existing is to enforce one simple law - thou shalt not steal, murder being the ultimate theft. They absolutely, positively have no mandate to govern demand.
Uwaga
9/30, 07:40MNQ looking indecisive with a bullish bias.
Very well could pullback more at or before the open.
Breakouts: mine start @ 24825
BTDs: no orders placed yet. Waiting for good bounce. Preferably in the 750 - 700 range.
Pivots: 24757 (fxed 03:41:52),727, 707, 657, 617
Uwaga
9/30, 07:50:00Know when & what important news/announcements hit the wires. marketwatch.com - U.S. Economic Calendar
Uwaga
09/30, 08:00: 5m chart - ascending triangle. Will it drop to BTD area 750 - 700 and then bounce or will it breakout through the top?Uwaga
09/30, 08:20: A patient, disciplined market will go lower and bounce in the BTD area.An excited market will burst upward. An indecisive market will go sideways waiting for a reason to move up or down.
I'm waiting, watching and ready for all three scenarios.
Uwaga
09/30, 08:25: Bandwidth Resistance - 24805 - 24840
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