Tuesday, August 10, 2010
Preview of Weakness
It isn't common for us to gap down this big ahead of a FOMC meeting, and it must be catching a few traders by surprise. If we don't have much of an upmove ahead of the Fed, we could have a "surprise" big down day on a Fed day. If the market doesn't get its goodies- more QE, the market will go down sharply. It seems we are overdue for a bad day when the Fed makes its announcement.
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1 comment:
I found it unusual that the Nikkei, Hang Seng, India, and Europe sold off sharply, except Europe hasn't closed yet.
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