I guess Fed days were getting too predictable, so today there was no 14:00 reaction. I’m a little curious about the Fed buying SPY on market weakness. The 39 month simple moving average for SPY is at about 290. My guess is that they will support SPY at around 250. The 13month simple moving average is at 322.
x0F and x0C are the classic drops out of the upper cycle into the middle cycle. x00 has not been seen since the election and has happened only 5 times since the end of April. x0 has been a consistent winner for daily signals.
I’ve been cautious this week because of the Jan/Feb thing.
