DON’T FALL PREY TO THE LOW-CREDIBILITY FED ECHO CHAMBER $ESU6 $GCZ6 $GLD $QQQ $SLV $SPY
Not to date myself, but I have been around long enough to know when the echo-chamber volume has become dangerous for investors. On Wednesday at 2:00 p.m. ET, the FOMC released the minutes of its last meeting, which showed that the committee is divided but overall were more hawkish than the consensus.
The chart linked below shows the market reaction. Since big money goes to the futures when immediate action is needed, the chart is of S&P 500 futures ESU6. The reaction is most visible on this tick chart, but tick charts are hard to read for those not accustomed to them.… Please click here or the title below to read more.
August 18, 2016