Friday, October 2, 2015

Fed Minutes next Thursday?

Is Yellen finally going to hike rates now that everything is fine again?  There's a Bradley turn date next Friday (according to the Manfred Zimmel), if you believe in that stuff.

And where is our lower support in all this?  How much water does a waterfall fall?

SPX who knows


Christian Gustafson said...

Both the 10/9 and 11/18 Bradley turns this fall are right at Fed Minutes releases.

Maybe it's all-Federal Reserve, all-the-time now.

T.Berry said...

survived the cliff (whew), now we think rally through year end. not expecting the snp to finish up more than about 2150 or so for the year. impressive reversal for sure.

Laughinggrizzley said...

Christian, is your time frame off, since we closed at 1952? (Knowing that anything with the market is not an exact science! LOL!) Could we start to waterfall next week?

Christian Gustafson said...

We're still under that descending trendline. Obviously we will have to move sideways/down for a few days before putting in a final (? LOL) surge into FOMC Minutes or whatever.

There were 200x-baggers intraday on the today 193 SPY calls. Plenty were available this morning for a penny. Any of you crazy riskloves play those?

Depending on how you draw the descending trendline, we could be back at 1343 on October opex. The situation would have to be some fiery insistence in the minutes that we are really really going to hike rates, so the market crashes in advance.

Then they won't do it, of course. Not with stocks that low, no way.

Wild stuff today, I hope it cleared the field of bears and sets up a great short. I closed my puts long ago.

T.Berry said...

as for rate hike, sticking with my position from last fall, none till after election . just no real reason to hike anytime soon.

T.Berry said...

ha, goldman out today saying expect liftoff in 2017. where have they been? : )