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The Fed Event

Started by TechMan , Jun 22 2011 10:45 AM

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39 replies to this topic

#1 TechMan

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Posted 22 June 2011 - 10:45 AM

Not unlike the Greece event last night, the Fed day today could be just as anticlimactic. If the expectations were for the Fed to induce a market selloff or rally, intentionally or unintentionally, I can only say Hope Floats. After a few initial spikes, the market's likely to settle into a narrow range affair.

In any case, the Fed event is usually the Dollar event. This is the chart I had posted on Friday night looking for the Dollar to test that lower trendline, which happens to be the 61.8% support at approx. 9500.

Posted Image

And, it seems to be on its way on this update chart. It'd be instructive to see the reaction from here.

Posted Image

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#2 dcengr

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Posted 22 June 2011 - 11:19 AM

My dollar model says it wont go that far down. In fact I may buy dollar soon.

Qui custodiet ipsos custodes?

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#3 jjc

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Posted 22 June 2011 - 11:25 AM

My dollar model says it wont go that far down. In fact I may buy dollar soon.

Give us a glimpse into your "dolar model". Is it based on a fractal... cyclic... rsi series?

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#4 TechMan

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Posted 22 June 2011 - 11:59 AM

Likely Q & A at the Fed press conference. Q: Are you concerned about inflation? A: It's transitory. Q: What can you do about high unemployment rate? A: It's transitory. Q: Is there anything that's not transitory? A: No, but that's also transitory.

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#5 SemiBizz

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Posted 22 June 2011 - 12:35 PM

Bernanke Press Conference around 2PM.

What could go wrong there?

Just because CNBC just took a poll with 18,000 respondents and 96% said they have no confidence in him?

Price and Volume Forensics Specialist

Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"

Volume is the only vote that matters... the ultimate sentiment poll.

http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics

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#6 Echo

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Posted 22 June 2011 - 01:51 PM

Bernanke Press Conference around 2PM.

What could go wrong there?

Just because CNBC just took a poll with 18,000 respondents and 96% said they have no confidence in him?

The old Monty Python skit come to mind with the guy with his arms and legs getting cut off saying: "But its just a minor flesh wound." :juggle:

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#7 SemiBizz

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Posted 22 June 2011 - 01:58 PM

So far it looks like he's channeling Don Knotts...

Posted Image

Edited by SemiBizz, 22 June 2011 - 02:02 PM.

Price and Volume Forensics Specialist

Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"

Volume is the only vote that matters... the ultimate sentiment poll.

http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics

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#8 TechMan

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Posted 22 June 2011 - 02:21 PM

So far it looks like he's channeling Don Knotts...

I was thinking about this....

Posted Image

Gosh, that press conference was painful.... Yawn.

I kept getting distracted by Constance Hunter's back side whenever the camera moves behind her.

Edited by TechMan, 22 June 2011 - 02:29 PM.

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#9 dcengr

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Posted 22 June 2011 - 02:59 PM

My dollar model says it wont go that far down. In fact I may buy dollar soon.

Give us a glimpse into your "dolar model". Is it based on a fractal... cyclic... rsi series?

Fractal of nikkei.. I've posted it before many times. Still tracks very closely.

Qui custodiet ipsos custodes?