This is a bull flag on the macros right?
Wrongirish pete ag06 said:
This is a bull flag on the macros right?
Bears dropping the hammer now.irish pete ag06 said:Wrongirish pete ag06 said:
This is a bull flag on the macros right?
So does that mean people think the markets are heading higher in their opinion?BlueTaze said:Remember, when people start taking off their hedges (selling their long puts) it pushes the markets higher.
— John F. Carter (@johnfcarter) October 19, 2022
The longer we stay above 3600, the more likely we squeeze IMO.
loading more shorts?$30,000 Millionaire said:
Not convinced it will stick to the downside.
holy ****e. I traded that drop as well, but a 10% gain, lol$30,000 Millionaire said:
BOOM MFers.
Yeah I think he was talking about a bull market in general, not the ATH.LMCane said:techno-ag said:
This guy has an interesting article on bear markets. Not sure I agree that the past is always prologue with the market, but he has a lot of interesting comments and predictions.Quote:
The bull market which lasted from August 1921 through September 1929 was followed by a bear market which ended in July 1932, 34 months later. The bull market from October 1990 through March 2000 was followed by a bear market from March 10, 2000 to October 10, 2002, 31 months later. We just had the lengthiest bull market in history from March 2009 through January 2022, so expect the current bear market to last for at least 2-1/2 years and perhaps longer.
https://seekingalpha.com/article/4547224-big-market-bottoms
looks like it took nearly TWENTY YEARS to once again reach the previous all time high.
Fightin_Aggie said:So does that mean people think the markets are heading higher in their opinion?BlueTaze said:Remember, when people start taking off their hedges (selling their long puts) it pushes the markets higher.
— John F. Carter (@johnfcarter) October 19, 2022
The longer we stay above 3600, the more likely we squeeze IMO.
Hoping for a move to 3500, they don't get it, so they start closing out their long puts into monthly expiration.
— John F. Carter (@johnfcarter) October 19, 2022
Rangebound chop continues as we near OPEX Friday. #ES_F spent the entire week selling into 3680-3700 support, bouncing out, then returning. Back again. 3680-3760 = range
— Adam Mancini (@AdamMancini4) October 20, 2022
Same drill: Bulls need to hold 3680 lowest & reclaim 3700 to see 3735, 3760. 3680 fails, we see 3645, 3620 https://t.co/bdMCR4GOzC
https://www.cnbc.com/2022/10/20/feds-harker-sees-lack-of-progress-on-inflation-expects-aggressive-rate-hikes-ahead.htmlirish pete ag06 said:
Bear markets.
Green days turn red.
This didn't help and it hit right when the slide began.Quote:
Philadelphia Federal Reserve President Patrick Harker on Thursday said higher interest rates have done little to keep inflation in check, so more increases will be needed.
"We are going to keep raising rates for a while," the central bank official said in remarks for a speech in New Jersey. "Given our frankly disappointing lack of progress on curtailing inflation, I expect we will be well above 4% by the end of the year."
The latter comment was in reference to the fed funds rate, which currently is targeted in a range between 3%-3.75%.
Markets widely expect the Fed to approve a fourth consecutive 0.75 percentage point interest rate hike in early November, followed by another in December. The expectation is that the Federal Open Market Committee, of which Harker is a nonvoting member this year, will then take rates a bit higher in 2023 before settling in a range around 4.5%-4.75%.
Harker indicated that those higher rates are likely to stay in place for an extended period.
"Sometime next year, we are going to stop hiking rates. At that point, I think we should hold at a restrictive rate for a while to let monetary policy do its work," he said. "It will take a while for the higher cost of capital to work its way through the economy. After that, if we have to, we can tighten further, based on the data."
topher06 said:
Joe is NOT going to be pleased with those comments this close to midterms
I'm becoming increasingly convinced that the Fed guys are so continuously dropping these little nuggets about expected to keep rapidly raising rates because (like Bonfire mentioned) they know they can't actually keep the rate elevated for long. They're trying to get maximum shock impact from the little ammunition they have on rate raises.Charismatic Megafauna said:
I just mean intraday. A ruthless $8 slide with no news (other than a fed governor saying the same stuff we already knew) seems overkill, just bears getting control and making a run for it
ProgN said:https://www.cnbc.com/2022/10/20/feds-harker-sees-lack-of-progress-on-inflation-expects-aggressive-rate-hikes-ahead.htmlirish pete ag06 said:
Bear markets.
Green days turn red.This didn't help and it hit right when the slide began.Quote:
Philadelphia Federal Reserve President Patrick Harker on Thursday said higher interest rates have done little to keep inflation in check, so more increases will be needed.
"We are going to keep raising rates for a while," the central bank official said in remarks for a speech in New Jersey. "Given our frankly disappointing lack of progress on curtailing inflation, I expect we will be well above 4% by the end of the year."
The latter comment was in reference to the fed funds rate, which currently is targeted in a range between 3%-3.75%.
Markets widely expect the Fed to approve a fourth consecutive 0.75 percentage point interest rate hike in early November, followed by another in December. The expectation is that the Federal Open Market Committee, of which Harker is a nonvoting member this year, will then take rates a bit higher in 2023 before settling in a range around 4.5%-4.75%.
Harker indicated that those higher rates are likely to stay in place for an extended period.
"Sometime next year, we are going to stop hiking rates. At that point, I think we should hold at a restrictive rate for a while to let monetary policy do its work," he said. "It will take a while for the higher cost of capital to work its way through the economy. After that, if we have to, we can tighten further, based on the data."
Very scary.💞😂😂#Halloween pic.twitter.com/wC6kLYuXFK
— Figen... (@TheFigen_) October 20, 2022