I see it hit (June low) and bounced of 3650 on Friday...and is now (my time) heading back towards it (my time now = 7:37am Monday morning @ 3660) could/should re-test 3650.....will it break or bounce again (double bottom or even a triple bottom)
tantamount
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@Laurent10, Thanks for the comments. Here's my new chart idea.
Laurent10
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@tantamount, Has it broken through your middle line +/- 3666???...if so and id it breaks 3650 (June low) what about a strong drop to +/- 3250 - 3300 - bottom support before any reversal back to 4000 - yes/no
Entrenched
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nice
CapeAfrican
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Agree - They still have 8 Trillion on the books to sell -- Every country is raising rates - Inflation a world wide concern - So the FEDS are painted into a corner -- Technically your chart makes sense to follow the path down --FED day today and GDP tomorrow ---may be crazy wild
ram4nd
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Since EFFR is still 1.58 and SOFR is still 1.52. It seems to me that last time they lied about rising rates.
CapeAfrican
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@ram4nd, All they raise is the Fed Funds Rate -- other rates are market driven -- especially Long term rates which are now inverted to price in the recession
ram4nd
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@CapeAfrican, I wouldn't assume other rates are market driven. If they where, they would find an equalibrium. But central banks figure out new tools to keep the manipulation lower going. Just look at the latest Fragmentation tool that ECB coughed out...
dRends35
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Whatever they do or dont do a big bounce is coming i think. Its the way charts move.