Anyone following the fed funds rate and its implications.? It swung right above in the morning and now is under the target rate?
Sorry, but I'm not a Fib trader, nor am I convinced to this day of its magic so widely touted by other market wizards. It's too damn arbitrary in my opinion. However, I agree with you that there is a support at 1175-ish that requires attention. Nevertheless, I'm quite certain that this market will get dragged down lower (read: raped) more sooner than later. But what do I know, I'm just a noob. And speaking of noob, I too had my days of overactive bladder on steroid coupled with sweaty palms. Some jittery moments.
Yup. I feel ya playa. today is reminiscent of the late 90-'s and 2000. You just don't know where she will land. as I type this ES is making an attempt at testing the lows. If it holds we may rally hard and fast. If not its lights out - fed will be forced to step in ASAP!