EOD of Friday the market was 'saved' and it recovered above the line I have been posting about.
Over the weekend the Fed asserted the next raise maybe 1%. I believe this was done specifically to try to get the market to tank at this critical level. Why? Because the Fed DOESN'T want to keep hiking rates, but believes it does if we are seeing markets ignore their efforts and inflation comes in higher.
They want to craft a story that when the Fed raises rates, markets and inflation falls.
Today we will get our answer. Can the market close above the line yet again? If it does the bull is resuming! If we are below the line today, I wouldn't go all in short just yet. We need some follow through. Cash is best right now, good luck!
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