Dow Futures, YMM5, Mar 19 Set-up
08:55 am:Futures reversed strongly after FOMC minutes. Yellen removed ‘patience” from the minutes and dropped significance of employment rate to decision on Fed funds rate. USD dropped and markets took off, reversing a 128 point drop at 2pm to a 200 pints rally to the day’s end to 4pm.
These extreme swings in the Forex markets will have is causing tectonic shifts in the other markets (equities, bonds, and commodities). However, ,the timing of when these effects manifest strongly in the equities markets cannot be determined.
The market bias remains long above 17800.
12:24pm: FED may be losing control of the markets here as recent FOREX upheavals provide the devastating instability undercurrents.
For instructional purposes only.