Once again,for the umpteenth time, and incredibly
the stock market was "blindsided" this morning
by the US Federal Reserve Bank's Chairman
comments that interest rates may need to rise even further
to combat the 40 year high rate of price inflation.
That the market is selling off this morning,
is not the surprise here.
To me the surprise
is that the market has still has not even come close,
to discounting the ultimate cost to the US economy,
of skyrocketing inflation in the pipeline going forward.
Just take a look for example at any chart that shows
the overall health of the US housing market.
Look at the substantial damage that is devastating,
yes devastating the housing market,
and the charts that show momentum clearly spiraling straight down,
with expectations of more and more downward pressure to come.
The stock market needs to wake up !
Sooner,rather than later.
There are profound consequences if they don't.
I issued a "sell recommendation "
on the S+P 500 on the March 6,2023 Daily Update at a level of 4072.02,
when bullish traders were giddy,.. buying prices up to 4078.49 just yesterday.
The sell recommendation, remains in effect today.
NOON EST OPEN 4003.02
THE_UNWIND
WOODS OF Connecticut
the stock market was "blindsided" this morning
by the US Federal Reserve Bank's Chairman
comments that interest rates may need to rise even further
to combat the 40 year high rate of price inflation.
That the market is selling off this morning,
is not the surprise here.
To me the surprise
is that the market has still has not even come close,
to discounting the ultimate cost to the US economy,
of skyrocketing inflation in the pipeline going forward.
Just take a look for example at any chart that shows
the overall health of the US housing market.
Look at the substantial damage that is devastating,
yes devastating the housing market,
and the charts that show momentum clearly spiraling straight down,
with expectations of more and more downward pressure to come.
The stock market needs to wake up !
Sooner,rather than later.
There are profound consequences if they don't.
I issued a "sell recommendation "
on the S+P 500 on the March 6,2023 Daily Update at a level of 4072.02,
when bullish traders were giddy,.. buying prices up to 4078.49 just yesterday.
The sell recommendation, remains in effect today.
NOON EST OPEN 4003.02
THE_UNWIND
WOODS OF Connecticut