None of this rate increase matters in the longer term. Oil moves on market demand and supply and Joe Biden's threat to slap a windfall profits tax on US oil companies, as he continues his war on oil----will only spike inflation higher. Oil is inflationary which is lost on this fool. Instead, of backing off on his war on oil, he is doubling down on his stupidity. Yeah, because the oil companies will not pass on the higher taxes on the consuming public?
It turns out this time he did deliver the .75% increase and the market still rallied. I think it rallies so much on the announcement day because people anticipated so much that they are almost always dead on so when the rate decision really comes out, as long as there are no surprises, the market doesn't care so much and is actually happy that the cat is out of the bag sorta speak so it rallies. The next day, mind you, it's going to drop when people finally realize the full impact of what's going to happen and they panic sell. You watch, tomorrow is going to be a down day, might be a major down day since the rate increase is so big.
it went UP AND DOWN AND UP AND DOWN AND UP MASSIVELY AND DOWN AND SIDEWAY AND UP AND DOWN into the Asian session However, it was not easy to day trade because of the movement was rather jerky messy spiky
I would normally agree with you but we have a holiday weekend coming up + oversold market I think we rally. It’s the same setup we had leading into Memorial Day weekend right after NVDA earnings. Another bear market rally that gets sold into next week
Seeing how the futures are doing, tomorrow might be an up day but Friday will be a down day, might not be a huge down day but it's going to give back a bit.
I change my mind. Tomorrow or I should say today is going to be a down day as I previously predicted. The market might bounce back on Friday and might probably end the week on a rally as many here have predicted.
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