The ECONOMIC MELTDOWN WORSENS.. BANKS TAKE OFF. DOW HITS RECORD... IMPORTANT UPDATES. Mannarino
From Greg M
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Greg (shall I write Greg or Gregory; think you use Greg mostly in your videos?), you’ve mentioned in your videos that whenever Fed makes a statement on interest rate hikes, it’s not going to be meaningful, and the market will move higher. Guess the FOMC statement of today is such an occurrence. So wonder:
1) do you think NDX, which has been quite penalized lately due to rising US10Y, and possibly FOMC, will catch a bid through the FOMC meeting?
2) looking at yesterday’s price action into the close (NDX), it seemed like they turned on the dip-buying machine during the last hour of trade, only to then in the last 10 mins of trading and in the after-hours sell back off. I suppose part of it is the game they are playing, but if wallstreet sells off into the close, isn’t that an indication that they expect the index to fall / remain under pressure?
3) why do you think the futures market made such a strong push higher ahead of yesterday’s open, and then only to strongly sell off (NDX) during the first hour of trade? In your pre-market video, it seemed that your interpretation of this price action did not anticipte the steep 2% sell off seen in NDX during the first 2-3 hours of trading?