Fed days have become a complete free-for-all.
The S&P 500 has now seen THREE swings totaling ~$2.9 TRILLION in market cap during today's session.
Between 9:30 AM ET and 12:15 PM ET, the S&P 500 fell -85 points, losing -$770 billion.
Between 12:15 PM ET and 2:55 PM ET, the S&P 500 rallied +110 points, adding +$1 trillion.
Between 2:55 PM ET and 3:45 PM ET, the S&P 500 fell 120 points, losing -$1.1 trillion.
The era of Fed guidance is over and the market is not liking it.
The average cost to mine a single Bitcoin is now over $87,000. The price of Bitcoin has collapsed to $63,385. Everyone mining Bitcoin at the moment is losing a lot of money.
So, after the first half of Dolphins football…..how are you feeling about this season?
Do you think they can respond favorably to this adversity.
GIF respond only…..
August is historically a bearish month. If you fight the trend you'll have no capital left for the bounce incoming once we bottom. There were clear signs of weakness this past week. 👇
1. $META and $MSFT had a positive earnings reaction but the market still moved Green to red ln Thursday gap up- BEARISH.
2. Negative reaction to FOMC on Wednesday- BEARISH
3. Weak July Jobs report on Friday- NFP added 73k jobs- well below expectations of 100k- BEARISH.
4. $SPX dropped 200+ points and $QQQ down 23 points in 2 days- BEARISH.
If you ignore the news + technicals and still try to average down or load up on calls during the BEGINNING of a pullback, this is how you get crushed. The market will bounce eventually. It's not a question. But you need to wait for a bottoming formation to occur first. We're not there yet so be patient and WAIT.
Insane value today. Waited for confirmation and acted without hesitation. Great week. Not going to get ahead of myself, but this was good for the confidence. Thanks to @FelonyTrades for the amazing gameplay. $400 week may not be much to most but it’s honest work for me.
Very solid day. Started with small losses which led to big wins. Risk management is the most important part of this game. Gotta keep it tight tight. You can always re enter and make back the loss as long as it’s small.
@FelonyTrades Same here except much smaller size than you. But still had a $600 position. 40% in less than 5 mins. My daily goal hit I took my slice. 10 mins later it was 100%. Tomorrow we strike again