SPX Elliott Waves (SP500)

[gdl]

POWELL just announced a 25 basis point cut. I am curious how good the economic numbers will be between now and end of month. i expect it to be good. But Powell is a lackey of trump and does whatever he wants.

25 basis point cut allows market to rally till day of announcement. From that day on the market stalls. Forget EW or charts. The market will not gain any traction there after. Now it is possible that the 18th on (Mueller trial) will already stall the move but I give that even odds.

Imagine the FED cutting rates when the stock market hits new highs 11 years after it started the run. now imagine jobs. unemployment, service sector on FIRE! 200K jobs in this environment is unheard of.

This should be a BIG RED FLAG for anyone with decent analytical skills. Earnings is NOT getting better. The market already baked in double digit gains within 6 months time frame. they also expect this quarter to be flat to 2 percent higher at best. So tell me, with an 11 year old bull, full employment, low inflation what can possibly cause earnings to rise? Yup borrowing and debt. The FED is now attached to this market lock stock and barrel.

maybe for an encore TRUMP throws another 2 trillion to the rich. maybe be disbands Obamacare all together (real possibility) and allows the bulk of the expense which is now towards the wealthy, yet another bonus free money.