3 replies to this topic

[pdx5]

The Dow Jones reversed nicely higher Monday after the Federal Reserve said it will start buying individual corporate bonds

• 02:25 PM ET 06/15/2020

The stock market fought back after a sharply lower open Monday and strengthened even more in afternoon trading after the Federal Reserve said its bond-buying program will now include individual corporate bonds. The Dow Jones Industrial Average slumped more than 750 points, or 3%, but was up 0.8% in afternoon trading. Several top-rated growth stocks turned in solid showings in the stock market today, helping the Nasdaq turn a 1.9% intraday loss into a gain of 1.6%.

No doubt about it, this is the most news driven market ever. How can TA predict tomorrows news?

 

[andr99]

maybe it's news driven, but I was expecting that......any news gets out always at the right moment, strange.......eh ? 

Edited by andr99, 15 June 2020 - 03:05 PM.

[4caster]

It wasn't about the Fed announcement it was about the fact that the the  2 day RSI (RSI2) on the daily CPCE

chart was at 97.40 calling for a ST top in the CPCE, i.e a ST bottom in the mkt

[pdx5]

IDK, the sharp reversal upwards exactly coincides news breaking from FED.

May be FED timed it based  2 day RSI (RSI2) on the daily CPCE

chart was at 97.40 calling for a ST top in the CPCE

 

I think FED is the horse and RSI is the carriage. Not the other way around.