Still trying to get my head around how much weight to give the Fed's 'forward guidance'. It often feels like they talk tough about rates or QT, only to pivot later when the data changes, which then whipsaws the market. Are you guys genuinely trading the guidance or just waiting for the actual rate hike/cut announcements or balance sheet changes before making bigger moves on $SPX or $USDX?
Hey everyone, been looking at $KWEB today and yesterday, and that 28.175 level is really catching my eye. It was pretty much the low of yesterday, and we've retested it already today. On one hand, you could argue it's holding up as a support, which might suggest some accumulation around these levels, possibly setting up for a small bounce.
However, the price action looks a bit weak overall, with the daily range staying fairly tight and not really showing much conviction to the upside. If we decisively break and hold below 28.175, especially on increased volume, I'd see that as a pretty clear signal that the sellers are still in control and we could see a move down towards 27.50 or even lower. Just trying to figure out if this is a temporary hold or a precursor to further downside. What are others seeing in this chart?