As I asked in a post about 1 month ago, what will the Fed do if the Wuhan Virus effected the stock markets?
Well, they cut rates, and they’ve had to wade into the repo markets more than expected, but at this point still no “meaningful” stimulus. So, unless they step in like and elephant foot in a full bathtub, I’m watching for this to continue its downward trajectory at this point I can see the low at 21,450 area being tested after we get a “dead cat bounce”. If you understand Wykoff method, I see distribution with the large volume spikes, and What looks like an UTaD, so the “dead cat bounce” I’m expecting could create the LPSY.
Well, they cut rates, and they’ve had to wade into the repo markets more than expected, but at this point still no “meaningful” stimulus. So, unless they step in like and elephant foot in a full bathtub, I’m watching for this to continue its downward trajectory at this point I can see the low at 21,450 area being tested after we get a “dead cat bounce”. If you understand Wykoff method, I see distribution with the large volume spikes, and What looks like an UTaD, so the “dead cat bounce” I’m expecting could create the LPSY.
