Rate hike (FOMC), and impending shutdown likely indicates a bear week and new year lows
- Thread starter Cuddles
- Start date
The shutdown isn't much. It was a regular thing for a while. I guess we're going to do it again now.
The rate hike could get very interesting, either from the language or them holding steady. We can blow through a few hundred Dow points in a few minutes on nothing these days, so some real news might just blow the whole thing up. The amount of downward pressure for all these consecutive days and weeks is pent up. We may go down more, but I'd be scared to be short right here.
The rate hike could get very interesting, either from the language or them holding steady. We can blow through a few hundred Dow points in a few minutes on nothing these days, so some real news might just blow the whole thing up. The amount of downward pressure for all these consecutive days and weeks is pent up. We may go down more, but I'd be scared to be short right here.
stop being smart, just trade it!
I've tried that only to have the market react late to the news.
fml
https://www.investors.com/market-tr...nasdaq-closer-bear-market-interest-rate-hike/
The Fed, as expected, raised the Fed funds rate by a quarter point. Investors did not see as dovish a Fed as they hoped, sending stocks to new lows.
The Nasdaq composite fell 2.2% to its lowest price since Oct. 26, 2017, and at today's low the index fell 19% below its prior high. That's just one percentage point away from what most would consider a bear-market decline. The composite would need to drop to 6506 to reach a 20% drop.
IBD's current market outlook already is "market in correction," which urges investors to be mainly or entirely in cash.
The S&P 500 slid 1.5%, touching its lowest since Sept. 25, 2017. Its overall decline from the Sept. 21 peak is now 15%.
Thanks...that's what i did.