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Thursday, February 2, 2023

Market Rallies into The FOMC announcement/ $VIX plummets - Bitcoin, $USD, But wait, there's more!

 Well, we got our relief rally, as expected. 

Here I am trolling the idiot short sellers, well ahead of the FOMC announcement. 

Very typical and predictable trading day, as the Fed only did a .25 rate hike. Chairman Powell seemed to make excuses for why they felt like they have done plenty to bring down inflation, when in actuality, they've done very little.... 

Funny, the lame stream media calls it the "Fed decision", as if it takes them 2 days of debate what they're going to do, when they probably go into the meeting knowing exactly what they're going to say, weeks ahead of time, and so do the member banks who's hedge funds drive this this rigged market. I suppose there are even some congressmen, and lame stream media insiders, who are gaming the system; seeing how corruption, and kleptocracy, is the new normal, but I digress. 

Do you investors think The Fed won't take this market down, any time they wish? 

Timing is everything

It's obvious to me, that tech is going to continue to hold up into the weekend. We call this; "holding the short sellers hostage". I mean they were trapped for a reason, and that reason is to collect on weekly Options Expiration Friday (tomorrow). 

Monday is a different story, and Monthly OPEX is only a couple of weeks away. 

Do you think the retail bulls, who have been chasing tech stocks are going to win on Feb. 17th? I sure as hell don't... but the following Monday is a National Holiday, and Valentines Day, which happens to be slow, is the same week. I think  bankers take the day off, to shop for jewelry, and deliver presents to their mistresses. lol    

Anyhow, you should be looking weeks out - at the calendar, as usual. If we get a market crash, in the next couple weeks, then we're probably going to get a relief rally, the following week.  

This morning: 

The Bank of England - historically this is who owns the Federal Reserve - - raises the bank lending rate by 500 basis points.  That should take the wind out of the sails, of the overly bullish crowd, overseas, but not until this relief rally ends.

Breaking: ECB followed with a .5 hike

I think the only reason the fed didn't hike a full half point, if political pressure, from the left. 

Things to Watch:    

The $DAX - this market has been leading global markets for years, and it's a canary in the coal mine

 Not a great chart - I know... - but it shows the counter-trend rally, in a massive consolidation pattern. 

When Germany falls, everything else is going with it.  

Mixed Markets - NASDAQ futures are higher, on blowout $META earnings 

That's one stock to watch, as the short sellers are squeezed out, above the 200 day moving average

$META - You don't need a chart to know, this is what bearish capitulations looks like. 


Why Bitcoin? Because wherever bitcoin goes, technology is sure to follow.

Sometimes I tune into Fox Business just out of sheer boredom, and the see what some of the least sophisticated traders in the world, are being spoon-fed. 

Another thing to watch:

 The $USD - seems like only yesterday, we were looking for the top on the DXY, and here we see a little washout, just below support... 

I was actually searching for my bitcoin chart, and decided to update the (above) $USD chart. 

Of course Crypto, and Commodities Traders, should take the other side of that dollar trade. 

We may also see money come out of some other sector, in order to fuel the tech rally, so lots to watch! 

But wait, there's more! 

Getting back to what I saw Fox Business peddling yesterday: Someone came on after Powell, and pointed to the Transports leading, because in theory the Transports are supposed to lead the Dow. 

Well, I'm calling BS on that! And that's another thing for you to watch. 

I've been telling you this is a head fake rally for quite some time, and to watch the moving averages, and the chart (below) seems to prove my theory. We also have the lame stream media using guests to spin a bullish narrative, regardless of the technicals.   

$TRAN - adding this chart to the public charts area. 

I'm not offering any $SPX targets, or $VIX targets, but I have all that, and more. 

I even have the next Natural Gas target, after staying bearish into the end of 2022. 

I chart everything including Crypto, and better than anyone else!  

If you're a Hedge Fund Manager who's looking to hire New Talent, then you should contact me on LinkedIn, or PM me @3XTraders.   

Good luck, AA 

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