Tonight’s update is longer due to additional analysis regarding the alternate views and also “mindsets” and trading. Wednesday’s trade was not necessarily surprising but incredible to see even after the FED announcement. In essence nothing has changed – inflation remains strong and on the upswing, the interest rate hike I’m afraid is unlikely to slow inflation or stop the money printing machines – The situation in the Ukraine is not getting better – in fact the news today was extremely disturbing on a humanitarian level – the markets have gone from extremely oversold to extremely overbought in 2 trading sessions. – an astounding feat that will go unnoticed because rallies are “a positive action”, whereas selling or declines are ” a negative action” – and that I feel is such a misnomer that it has instilled the fear of “missing out” again. The NQ rallied strongly into the FED announcement and did briefly decline over 100 points before the buying frenzy hit again and drove the NQ 250 points higher in an hour. BTW – It was an awesome trading day! While tonight’s update is longer than usual – I give details on the alternate views and the change in labeling after today — I also go into detail on having the correct “mindset” and trading what is in front of you. I discuss that we all need to have the ability to change as quickly as the market and not to get stuck with a position or an opinion. The market doesn’t care and you will get left behind and likely blow out your account.
March 16, 2022