ajtj's Post-Lobotomy Market Charts and Thoughts Message Board

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Strategies & Market Trends : ajtj's Post-Lobotomy Market Charts and Thoughts

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ajtj99

To: ajtj99 who wrote (69775)	9/20/2022 4:34:22 PM
From: Lee Lichterman III	1 Recommendation Read Replies (1) of 97653

Some of the FOMC meetings they take it near support or resistance and then we just go flat and do nothing. The whipsaws come after the announcement. The first few minutes shoot up and down as people try to jump on the trend that isn't thinking we cleared the support/resistance. If I remember correctly, last time we shot up, then down then up again and then stalled while everyone read the statement for hints. Only after that did we start trading semi-normal. What threw me today was a lot of the pullbacks stopped short of the fibs. Many of the ones that did make it reversed at the 38% which usually indicates a strong trend but it would move up like normal then the bottom would just fall out.

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