Don't fight the fed. They will be able to manipulate the markets for a long long time, they are they market, so why fight it. I knew they would send oil back down and sure enough, inventories are MUCH HIGHER, sending oil right back down. This is there way to control there last BIG hold out from raising rates, suppress oil so inflation appears low and they can continue to use that to keep rates at ZERO.
Don't forget the precious metals...the smack down since the last Fed meeting is something to behold...day after day of selling...
dollar power if it will happen, but either way oil seems steep bearish! (38?) this bad department store numbers and spx sell-off has "no hike in Dec" written all over it.... buy the dip? turns out department stores don't fit into our new world, will the Macy's Day parade still exist in our new world?
It's interesting how these market levels completely dictate her talking points...As that satirical graph of S&P levels and Fed actions shows, they feel more comfortable using "hawkish" talking points with the S&P above 2100...now that it's sliding a bit, it could become a bit more "neutral"...My suspicion was that the S&P flirting with all-time highs was something that the FOMC did not want to see happen as it would make them look particularly feeble and clueless...
That trendline from Oct lows was broken last week and this market has been rolling chop lower since then...