Afternoon Note
The market is moving higher, but you can still feel the tension in the air. It's not because folks are snake bitten near term, but throughout history, head fakes are common among big bounces. Of the 20 biggest sessions in NASDAQ history, only four marketed a turning point.
The big news today is the rapid retreat in crude oil, as China’s demand may come off the market now that 50 million people have been placed on lockdown.
The Fed will hike rates tomorrow, but that's not going to shake up the market - maybe the question-and-answer period will; although, Powell probably wants to stay more even keeled as he's given a mea culpa of sorts on the array of mistakes.
Let's not force the issue here.
Comments |
Not very good odds, is it? I did like the 20 biggest up days and turning points table. I learned once again from reading you every day. Thank You! Charles Haselberger on 3/15/2022 1:33:37 PM |
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