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Posted by Tango
on August 27, 2020, 9:28 am
Yesterday was a day that began with strength and ended with weakness. Volume rose sharply and the OI continued to climb, although modestly. Likely, all sectors were active both ways. Note the activity in the forwards both exchange and off-exchange indicating commercial hedging also likely both ways. True to the last couple of COT reports, funds and other specs are possibly buying, even on weakness. Some stops were hit earlier however. The Fed announced that rates will remain low, welcoming inflation at a higher percentage than previously targeted. Markets are reacting. Steady but reluctant.