Keep The Change

Bring this week to a close is important so that we can continue with backtesting and recharge for next week.   The Fed put out a statement today that they have NOT ruled out further rate hikes in order to achieve their target of 2% inflation.

As the UAW strike lingers on, there is a balance that is being struck between big corporations and the consumer.  As the strike lingers on, the edge that is being balanced gets sharpened to that of a razors edge.  The importance of the Fed pausing is important because that will allow external factors that the Fed does not control to have a chance to affect inflation.  Oil production being cut by OPEC, Union Strike at the Auto Makers, Natural Disasters, etc, are all examples of external factors. Not to mention the Writers Strike in Hollywood as all of these play an important role in our economy today.  

Understand this, if we did not have the writers strike at the same time we are having the UAW strike, there would be much more propaganda being put out in the media bosting one position over the other.

IS THERE A TRADE TODAY?

Hard to say.   

There is a setup taking place right now, but we are at least two hours away from putting in a position.  That would give 6 hours left in the day for liquidity to remain to close the position before the weekend.  And as we know on Friday, liquidity starts to disappear as the world turns and Friday morphs into Saturday.

Song of the Day, VOLULME #6

https://www.shazam.com/track/40542402/show-me-your-spine-from-the-movie-robocop