At the end of the month, the Fed is raising rates once again. I don't think the market will like what the Fed minutes say, but i've been wrong before. I was wondering what ET thought.
=============== Exactly EqtTrader, giraffe, 100% up room to go; not a prediction however, and actually my statement of probabilities does apply to next 20 days. NasdaQQQ, NQ looks notably weaker; & has trouble staying above its 50dma for long.
Rates are expected to rise , so that would likely be partly priced in, oil hasn't decreased as much as some say it should've,housing is slowing somewhat- the market still goes up. On the flip side there a lot of mergers and buyouts, I.P.O s - that sort of activity is causing at least some positive market moves. Autos aren't doing as good recently and are planning job cuts but AT&T has grown and are also planning 10 000 job cuts- grow or shrink i think good paying jobs will be tougher to find. Personally I think manufacturing will have supplied the market pretty soon- I think the number for consumer debt is at 2.18 trillion- a little bearish here temporarily, but every house has its troubles now and then
I don't know about 100%, but the preponderance of bearish sentiment leads me to feel the market will churn higher into the Fed decision.
I think the market will churn higher into next week's announcement. It will probably be over 1307 by next tuesday.
Actually 100% room is downwards, upwards the sky's the limit ... One thought: usually the Nadaq leads the market, and the Semis lead the Nasdaq. If these were to confirm now, direction isn't up. The pre-earnings season is around the corner, and this will probably shape the market. As always, don't neglect your risk management!