Last week was quite a wild ride!
After FOMC announcement on Wednesday March 20 2019, we wrote in our email:
“$SPX $COMPQ $RUT are all making big intraday moves.
Keep in mind these are typically head fakes.
We are not trading any of these moves ourselves, as our trading system is telling a different story...
$SPX, $COMPQ and $RUT are still in an up trend technically.
However, there are now strong signals indicating that a big dip is imminent. "
All of the predictions from our trading system appeared to have come true on Thursday and Friday.
Thu 3/21: Huge head fakes and bull traps
Fri 3/22: Big dip arrived with a bang
There have been a lot of different reasons attributed to the cause of this big dip. But keep in mind that news, headlines and sentiments are loosely attached to market movements, and suffer from time lags.
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