Shownotes Transcript
This is how our economy has worked since the dot-com crash. S**t might be catching up with the Fed
TSLA is about to test the 200 day ma. If this breaks there is no telling when buyers will step up.
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Show Notes
Summary of the day
Tight range developed in the morning
Jerome Powell was scheduled to speak at the NY Economic forum at 12 noon. The markets roared higher even before he was speaking. I suspect a massive fakeout. Chart below was taken 12:03pm. The live feed to his speach was also suffering from audio issues. But who cares as it was all prepared remarks anyway.
12:13pm TSLA down 8.88%!
12:17pm climate protesters disrupted the start of Powells speech.
12:23 prepared remarks end. And q&a starts
And the pop is gone during his q&a
Breadth
50 new highs
960 new lows
19% advancing 76% declining
80% below 50 day ma
73% below 200 day ma
Stuck out
Whipsaw city all day
Closed at the lows of the day
Strong
Yields
Volatility
Weak
What to watch
Watch mag 7
Watch yields
Earnings
Geo-political risk
Economic data
https://www.marketwatch.com/economy-politics/calendar)
Financial Freedom is not free, but the pursuit is worth the treasure.
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