olddog ...Re: ? on todays market reaction
YOUR... ? on todays market reaction
Alley: Always hard to figure out how the market will react. Did anyone really think that interest rates would not be going up sometime this year?
MY THOUGHT...IT'S ABOUT TIME FRAME...
It's not that most don't believe that interests rates will not go up...it's that they hoped it would take place after the election...with the Feds change in language the street is uncertain,,,We all know the street doesn't like UNCERTAINTY...
Wall street hooked into the wording change and did what wall street does... The recent run up to new highs on the indices was a was a setup for this activity. It's as if the street was waiting for a reason to take profits.
Fed. Changed wording re: time frame for interest hike ...
no longer promising to keep rates steady.
Feds statement released at the end of its policy
meeting changed the phrase re: time
frame ..from "considerable period," to
it would be "patient in removing its policy accommodation."
I am in the process of evaluating the technical damage.....
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