SPY/QQQ Plan Your Trade For 9-18 : Gap Potential & Fed Day
This video pretty much covers everything I've been telling all of you over the past 5+ days.
Yes, I'm planning on waiting out the consolidation/early trading today and waiting through the Fed decision. There is no reason to jump in front of a moving train attempting to change its direction or speed. You just get run over and beat up.
So, I'm going to take a break this morning, watching the markets and waiting for the Fed rate decision.
While I did look at some data points this morning, the one thing that caught my attention was the Mortgage Refinance Index. That index has jumped more than 45% over the past 12-16+ months while mortgage rates are still above 6%.
I believe this is an indication that ARM borrowers are under some pressure now (after roughly 36 months) to refinance and are dealing with higher rates. 2024-3 = 2021.
Those hot to buy anything after the COVID pandemic may have signed into ARM loans with a 3-year rate guarantee - which may now be rolling into fully adjustable rate loans. That would push the refinance index higher as these homeowners attempt to wiggle their way into something more realistic than the 6.5 to 7.5% rates on their ARMs now.
In my opinion, this is the only thing that may prompt the Fed to lower rates a bit - the pressure on a small segment of home owners in ARM loans that need some relief.
We'll just have to wait and see what happens today.
Get some.
#trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
Yes, I'm planning on waiting out the consolidation/early trading today and waiting through the Fed decision. There is no reason to jump in front of a moving train attempting to change its direction or speed. You just get run over and beat up.
So, I'm going to take a break this morning, watching the markets and waiting for the Fed rate decision.
While I did look at some data points this morning, the one thing that caught my attention was the Mortgage Refinance Index. That index has jumped more than 45% over the past 12-16+ months while mortgage rates are still above 6%.
I believe this is an indication that ARM borrowers are under some pressure now (after roughly 36 months) to refinance and are dealing with higher rates. 2024-3 = 2021.
Those hot to buy anything after the COVID pandemic may have signed into ARM loans with a 3-year rate guarantee - which may now be rolling into fully adjustable rate loans. That would push the refinance index higher as these homeowners attempt to wiggle their way into something more realistic than the 6.5 to 7.5% rates on their ARMs now.
In my opinion, this is the only thing that may prompt the Fed to lower rates a bit - the pressure on a small segment of home owners in ARM loans that need some relief.
We'll just have to wait and see what happens today.
Get some.
#trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
Get More Great Research & Tools
-- Special TradingView Tools
-- Automated Trading Systems
-- Proprietary Algos/Signals
-- More..
Join Ment.Com Expert Growth Today
Visit ment.com To Get Started
-- Special TradingView Tools
-- Automated Trading Systems
-- Proprietary Algos/Signals
-- More..
Join Ment.Com Expert Growth Today
Visit ment.com To Get Started
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.