As for me, I'm not sure if it's a given. I concur that there will be a pullback going forward, but the FOMC has already alleviated much weight from their shoulders so they have plenty of ammunition to fire. In fact, if the market overreacts, as it always does, I wouldn't leave out the possibility that Powell & Co. comes out with an emergency rate cut.
I don't understand the markets. dude. VZ said that today, he said that "A part of me wanted to post on Stoney's thread that today marked the 2022 high..." Well, the high of 2022 was marked back on Jan 3rd 2022. So what does today have to do with calendar highs? Jesus. People get so mad at me when I post the obvious. Just look at your own charts!
No offense, but your analytical skill is zero, zilch, nada. He means that today will likely mark the high for the remainder of the year, eg. "going forward that is" (translation: from now until December 31st). In another word, the market will only go lower from this point on.
OIC. Hrmmm. I did not interpret it that way. If that is what you meant VZ I apologize. But even that is a bold call, because we have all of December to get through. And Papa Powell is either going to make or break us in December.
Thank you. That, and he also missed the fact that I implied I was on the fence about that too. @Overnight, you ask why I say "annoying"... it's because you feel compelled to float around here and respond to every thread everyone posts on. Hence the mosquito pic. I mean I'm taking the time to write out a thoughtful response to @Buy1Sell2 who's opinion on market direction I respect as he's proven himself here right more often than not, and it's like... 3-2-1... here you come. I mean I KNEW as soon as I post that, you'd have something to say. And worse yet, you didn't even comprehend my post as it was intended. What's the first thing you do (?), the same thing you always do here... look for something in the semantics that's incorrect. "4800 was the high." Like we don't effing know that?! Gimmee a break. I know you get pissed when people put you on ignore, and tbh, I know you're a good dude and I won't put you on block... but there are times when I make a serious post that I say to myself... block @Overnight temporarily so he won't fly in and respond with the same ol' same ol'... "it's all about this or that upcoming economic data or Jerome Powell and the Fed." And then post a YT video. THAT is what I mean when I say you're "annoying". Apology accepted of course. No biggie at all, but sometimes.... it's just... ... Whatever. Carry on.
Indeed, I plan to short either tomorrow night at open or Monday at open. Just to make few bucks to pay for my yet to delivered LG 43 inch monitor...
Next week is event heavy, half of the Feds are on TV, placing bets? https://www.marketwatch.com/economy-politics/calendar?&mod=home-page