The Federal Reserve kept rates unchanged. “Many participants observed that if uncertainty abated, the Committee would need to reassess the characterization of monetary policy as “patient” and might then use different statement language.” WTF??? does that mean? FED “speak” might as well be an alien language. Bottom line is that it really doesn’t matter, the market is certain the FED will bail them out so Buy, Buy, Buy!!! Is it me or is the market in complete denial? Retail Sales were at lowest level in years. China is slowing down, Europe is slowing down, at the end of the 10-12 year business cycle…. Chicken Little the sky is falling, NOPE. FED to the rescue. Seriously, watch out below. Good news is that we traders don’t really care. By monitoring order flow, we can always stay on the right side… at least in the short run…. Which for short term traders is good enough. Check out 1on1trading.com for order flow training.
