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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: GraceZ who wrote (234049)4/7/2003 3:23:11 PM
From: UnBelievable  Read Replies (1) of 436258
 
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You may be right about the reactions of the traders to my explanation.

But you are not correct in thinking that the Fed does not work to influence the direction of the market each day.

In all but the shortest timeframes, the Fed obviously can not control the direction but they have the ability, and they do on a daily basis makes decisions in response to the market as of that day, which are intended to influence the direction of the market that day.
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