Most Recent Powell Appearances & PA Hello Traders, -----------> (see picture below for better view) <----------
I just wanted to take a look with you on how Powell Appearances or Fed Minutes & Press conferences have affected price action.
Above is a quick look at that and a very near-term prediction of SPY.
Of course, Powell is a very well spoken man, and he chooses his words very carefully. He said exactly what was expected and exactly what the markets wanted to hear, hence the rally. However, when do we move past the idea that the rallies will be followed by drops in the days following? Are we there? Are we almost there? No way to really know. Even with a strong ear to the pulse of the markets and every analysis you can think of, it can be difficult to time the markets.
Luckily there are tools like you see on my chart that can help to stay consistent even when you aren't entirely sure when we've hit bottom or when the rally rug will pull. Not all technical tools are the same and there isn't a holy grail per se; but some tools of the trade are much sharper than others. For example, some tools may help you catch tops and bottoms really well when combined with a strategy.
How have you been doing-- are you Consistent-- are you Confident in your trades-- do you stick to your Strategy and Stop-loss?
Never stop sharpening your sword.
As retail traders, we must be constantly evolving and sharpening our toolbox to compete against the institutions and whales out there.
Happy trading.
Cheers,
Mike L.
(UPRIGHT Trading)
The Powell Catalyst
