The relief rally is fading in the face of a three day weekend. For the most part, nothing changed near term for the Fed; although, odds of 75 bps are slightly lower.
It is really intriguing that Wall Street has put so much on the market going down; they are sending wave after wave of folks on TV and radio to talk down any news that might move stocks higher.
I love it, since this is the ultimate test.
Technically, the S&P 500 really needs to close above 3,900.I think you want to own and accumulate great names on sale in this environment, and at the same time, have more cash than normal.
Enjoy your three-day weekend...you've earned it.
|Absolutely love Charles' notes and Fox Biz show! Your financial - and associated political - analysis is consistently brilliant and "on target". Keep it up Charles!|
Joe Reid on 9/2/2022 1:56:46 PM
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