Pete wrote:

Hariseldon wrote:

I am not saying the LOD is in – but one does have to ask….Is there any reason to breach the SMA 50 before the FOMC comes out?  Now last time there was a similar question it was with the CPI release, where the SMA was breached before the number, but there were also persistent false rumors that factored in – Typical major support or resistance is not breached before a major economic release.
You reminded me of an excellent point. Beware of recycled news and rumors when the market action is dull. That is when they love to circulate that stuff.

100% – People tend to make the assumption that the Market Makers, Major Institutions, et.al all know what they are doing.  And in large part, they do – but they are also ALGO run primarily – and those ALGO’s do not differentiate very well between old new and new news – so recycled reports can have an impact simply because the ALGOs pick-up on the key words in the release

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