The market is predicted to experience a large upward wick followed by a significant drop within 30 minutes after the FOMC rate cut announcement, as rate cuts are already priced in, making it a 'buy the rumor, sell the news' event.
"I personally think that rate cuts have already been priced into the market and this is a buy the rumor, sell the news event. And now we are probably going to get rate cuts in the next 30 minutes. And I think that there's going to be a very large wick up and then boom, we are going to fall down."