Yesterday Oct 13 we witnessed the almost uncanny ability of the Futures Risk Oscillator (FRO) to forecast future price activity by hours and even days of advanced notice.
Well today was no different. We had HMH (Higher Means Higher) peaks in the FRO that told us at 7AM ET that prices would exceed the high of 1085 half.
Let me repeat that for you...We had notice at 7AM that price would blow through 1085 half!
The 12,000 tick and the 8,000 tick charts here illustrate the action of the last three days.
Question: How did the FRO 'know' what the FOMC meeting minutes would do to price action? Hmmm.....
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