There is rate hike in June, Brexit, and rate hike talk again in July.
No more rally.
Then there is QE in September, and before the general election there will the talk about new QE and negative interest rate, the last ditch effort to juice up the market to get H elected.
Either Granny is targeting her comments on non economic or non finance undergraduates, or she is totally clueless. Judging by professor Mankiw's style, he will lead the Granny to some intellectual trap.
The Lady cannot survive a real Harvard debate.
It is not big money, it is penny misers, want to cheat a few bucks from the panic retails.
Once they realize the big houses are no longer carrying their #$%$ they will be panic and will fold their position in a smoke.
That's how they "flash".
Not sure what these traders are thinking about. The Granny is not going to say "there is absolutely no rate hike this year". Any rate hike this year is negative. Don't these greedy fools know it is better to close the book now than 6 month later with a 30% hair-cut?
There is indeed a little bit of struggle here. Guess the bots' algorithm has a re-try built in here.
And we are about to confirm a lower lows for the day in the next 20 minutes or so.
Today's trading session can be used in some text book. Very clean so far.
209.90 - 209.79, it seems the rate is 3 cents per 2 minutes. Or maybe this is a irregularity at the start of the process.
209.70 or 209.60 in 30 minutes will help to increase the probability of one of the hypothesis.
One thing for sure is that there was no biological trading in any significant sense during the first one and a half.
Gradual sell off is the key, however it seems SPY is not under tight control today. Maybe the volume is too thin. We might see 10 - 20 cents quick drop this morning.