Random Walk Trading.com
Monday
March 16, 2015
1-855-RWT-0008
TM
Prepared by the good people at Random Walk, LLC.
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Closing Prices From Yesterday
The Fed Meets On Tuesday and Wednesday
and Announces on Wednesday
Today’s Number(s)
Yesterday and Today
Yesterday
It was another day of volatility with the SPX opening down about 6> After that the market ran up to unchanged before falling down 22.23 (about -365 Dow points). Then in the last hour the Dow ran up 119 points (from the bottom) to close down 145 points with the SPX down 12.55.
Two strange things about Friday:
ONE ā it is no surprise that oil, bonds and the Euro have been major influences in the direction of the market. Low interest rates (high bond prices) first moved the market. Then oil took over scaring the markets for about a month when crude futures were cut in half. After crude stabilized the Euro started to fall dramatically (as well as other currencies such as the Yen).
Friday we saw all of the three scary products (oil, bonds and the Euro) fall hard. The Euro broke through 1.05 to the USD. Crude fall through support and was down roughly $2. Yet despite all of this weird behavior the stock market held up relatively strong, and showed a bounce at the close that eradicated half the losses.
I still don’t know what the reason for the bounce was as I didn’t see any news coming out. It could well have simply been that so many people were short the market and had to cover at the end of the day. This is an unsolved mystery I don’t have an answer to.
TODAY
At 9:00pm eastern Sunday night the E-minis are down about 3. Crude is down another 0.68 with oil making new lows of 44.16. The EUR/USD is vacillating around unchanged and is not moving much.
What does this all mean?
We have manufacturing numbers, industrial production and capacity utilization numbers coming out in the morning. We also have housing a little bit later. Traders are looking for any sign that things are not perfect. Bullish traders are hoping for anything that shows this economy may not be doing as well as the unemployment numbers suggest. Why? So that some fear of the Fed suggesting they will raise rates in June dissipates.
The Euro falling and fear the Fed will raise rates sooner than later is the reason the SPX is down 70 points from their highs and the Dow is off 500. Whatever happens you can be sure things will be volatile and jittery until Wednesday’s 2:00pm (eastern) Fed announcement.
POT is held each Wednesday night at 7:00pm eastern.
A separate update is coming. Stay tuned !
Contract the office at 1- 855 ā RWT ā 0008 for more details.
Attorney Stuff
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