I would think that the close will be important for perception, most of the day the market has done nothing; even if you get your information from CNBC, you'll know that their traders and analysts were looking to today to see if there would be "follow through". There hasn't been anything I would consider follow through on the day, but for most traders the close is what counts and I think this is especially important on Friday afternoons as that's the last sentiment a trader carries through the weekend.
With that in mind, I see some signs of what may be organization to move the close in a positive direction, even though 60 mins of activity isn't going to change much compared to the day's activity.
I'll show you what I see and where. I'm capturing the charts now.
Is interest rates about to start going up?
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Yes, I know - it does not make any sense - FED is about to cut
rates...but....real world interest rates are not always what FED wants it
to be.
5 years ago
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