No what I meant was, as I stated in my first post, the market was supposed to go up, i.e. close > open yesterday with that 50bp rate cut, not the opposite. WHY would people sell in the face of such a huge rate cut? Obviously, it means they don't have much faith in the market or the economy. Otherwise why would they sell on such "good" news? And FYI the market is still opening high but closing lower as we speak right now.
Again, you have never understood the relationship between economic policy and how stock markets work. Inflation is already at 2% in Canada and savings rate exceed that figure by a fair bit. The idea of savings is not appreciation it is maintenance of capital and ability to access it. A dumb ass like you would keep interest rates too high too long and force a deep recession, then say look I told you in 2009 there would be another deep recession. Note the year that's how ridiculous you can get. People lose their livelihoods and sometimes their homes when the economy goes negative. That's not a goal to make you emotionally happy and let you trade negative etfs with immunity from real stock market moves.
People worry too much about recessions. Recessions are actually a great thing for an economic cycle yet The fed literally tries to make sure they never ever happen by printing their trillions. Recessions cleanse the system, like for instant if we had a recession, a deep recession housing prices would actually be more affordable and that new car you paid 45k asking over 5k over sticker would have been 36k....there is nothing wrong about recessions yet everyone fears them, in a matter of fact if we were in a recession now, more than half of the people wouldn't even know.....no one even follows economic news these days ... as long as they can drink their morning cup of coffee,take pictures with their new shiny phone and buy their crocs they don't care what the economy is doing.
A recession is when your neighbor loses his job. A depression is when you lose yours. "Ronald Reagan"
It does seem like a few algorithmic trading firms have manipulated the market such that there is no organic momentum on a major news event.
Yup I have noticed quite a few times the market actually tanks on a good news and actually rises up on a bad news. And you always have to wait for the next day to experience the correct impact of the news. Let's see what today brings. It looks like it's going to correct again.
Everyone worried about recessions yet brushing off ai as the next best thing on wallstreet meanwhile predictions for massive job losses once we move into the next 5 years but not one ounce or breath even talking about Correct again??? Markets are literally at all times highs ....the universe has never witnessed markets that go straight up and keep making new highs after new highs after new highs... The words correct again aren't being used correctly. The dow and s&p closed at all time highs, the highest we have ever seen and you are saying correct again? What is correcting?? A 24 point drop in the futures is not a correction..... Again if you think that's a correction you need to sell every single equity in your portfolios and go straight to cash. Have you ever traded through an actual correction???