I’ll be so glad when after today, the Fed has raised rates and we can all move on from this long drawn out discussion/hysteria of when the Fed will finally hike the interest rates.
I’m pretty sure we can track this discussion all the way back to when Bernanke was chairman, which is just absolutely absurd.
Below I’ve updated the SharePlanner Reversal Indicator and while it was flat lining last week and showing a potential early, upside reversal, the sell-off on Friday, changed those plans and took it back toward a path to the extremes.
When it starts to get to these extremes as you can see below, that is when you see any additional sell-off become a bit more sluggish in nature and not with the same kind of aggressiveness that we saw over the last two weeks.
Should the market bounce hard following rate hike and for the rest of the week, then it is very possible that we see the early reversal come back into play and if that happens, I’ll be sure to update the SharePlanner Reversal Indicator.
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*Disclaimer: Ryan Mallory is not a financial adviser and this podcast is for entertainment purposes only. Consult your financial adviser before making any decisions.
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