MARKET RECAP
Lots of swings and choppy trading. Once the FOMC notes were released the markets were taken down below yesterday's close (neckline) so that the system could trigger stop losses. These are set so that if a market starts dropping quickly you have an automatic sell in place should that occur. The problem is that the 'system' also know where these are at based on technical trading patterns and people placing them at round numbers. A common one to use is the fibbonacci number sequence.
Read moar here:
https://www.quantinsti.com/blog/fibonacci-retracement-trading-strategy-python
These stop loss orders are triggered and the shares scooped up while the Index's are taken back up. A common habbening is when the FOMC releases interest rate decisions or meeting minutes, like today, the first move is usually the wrong move. It has habbened like this for many years. Not all the time but enough to have a fair prediction of this pattern. Today was no exception.
Fed Minutes are here:
https://www.bloomberg.com/news/articles/2019-02-20/fed-minutes-show-officials-unsure-on-need-for-rate-hikes-in-2019
Same old story with volumes. Well below daily averages agai and has been a steady pattern. Longest Bull market in history with the correction we had starting last Oct. that ended on January 3rd.
Oil and equity's are still connected heavily.
Moar detailed Market recap available here:
https://www.zerohedge.com/news/2019-02-20/sleepy-stocks-drift-fed-minutes-fail-ignite-buying-boost
DOW
Volume 285,896,822
Avg. Volume 357,064,333
NAS
Volume 1,989,443,712
Avg. Volume 2,339,652,333
SP500
Volume 2,122,226,115
Avg. Volume 3,933,347,166
https://duckduckgo.com/?q=marketwatch&t=ffsb&atb=v134-1__&ia=web
https://www.kitco.com/charts/livegold.html
https://www.dailyfx.com/crude-oil