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The Fed gave us exactly what the market expected in a .25% rate cut, and even gave us a “gift” with the early cessation of Quantitative Tightening. Normally, most would view this as a bullish catalyst. However, with market sentiment topping out in a bullish extreme, market participants interpreted the Fed action as bearish (despite its positive substance), and the market sold off this past week.
Based upon my analysis, we now have a top in place, as I have been warning to expect. The question is what will that top represent?
Well, I’m waiting by the telephone for the Pulitzer committee to call me about the Wow post I created for my premium members two weeks ago. It is becoming thrillingly prescient. Alternately, had you watched CNBC last Wednesday, you would have followed their emphatic advice to buy stocks. Since they’re such a bargain and all.
I’m actually semi-crippled right now, because my portfolio laptop died, and I stayed up until 1 a.m. setting up a new system, but for reasons too long and boring to explain, it isn’t really the way I want it. And my setup is so incredibly efficient, if my arrangement is different, it slows me way, way down. So it’s frustrating.