DislikedThis is my scenario ... Mr B. will not cut rates due to the high oil price, the still elevated core PPI and CPI figures which all keep inflation be the primary concern. And there is the fact that equities are not doing too bad even without the rate cut ;-) .. they are far from getting hammered on the whole... he will wait for more data and maybe offer an action through the discount window and repeat his "we will do what's necessary and when it's necessary."
In my view the big fish are going to shake everyone (including me) out of the market by false-breaking our 231.70 resistance - and then reversing sharply towards the lows again. I would love to see a sharp drop ...
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Trade what you see, not what you think.
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Indicators show the past. Price Action "Indicates" the future.