| Author | Message | ||
     Entrepreneur Kurra Bewarse Username: Entrepreneur Post Number: 3810 Registered: 05-2011 Rating: N/A |
I continue to look for some choppy action into the Fed. There are a ton of catalysts set to hit the tape this week, but the most important will clearly be the Fed, and I think the tone from Powell will probably be the most important aspect of that event -- ie, will it be a dovish hike where the medicine is in the numbers while uncle Jay helps us take it with his soothing talk about us only needing a minor adjustment to the policy path to keep inflation under control, or will it be Daddy Jay coming to give us a time out, with threats of additional sharp hawkish adjustments to come because long-term price stability is truly and seriously at risk. If I had to guess, I would expect more the former than the latter, which could help to fuel a breakout and run into year-end. However, in either case, I would prefer to mostly 'spend risk' after midday Wednesday rather than ahead of it. But I am willing to take strong setups in either direction today and tomorrow if and when I spot them. |