Tomorrow is FOMC. And most people have the memory of a goldfish.
"But liquidity is coming!"
Look at the chart. I’ve marked the last 4 FOMC meetings for you.
June 18: Paused. -6.36% Dump.
July 30: Paused. -5.62% Dump.
Sept 17: Cut 25bps. -8.10% Dump.
Oct 29: Cut 25bps. -12.04% Dump.
Notice the pattern. The market front-runs the easing. By the time Powell speaks, the vertical move up has been completed in the days leading up to the meeting.
Consensus is 95% chances of a cut tomorrow. It is priced into the chart.
