Since today is one of the eight scheduled FOMC events, I thought I’d fire up the Event Markers feature in SlopeCharts and see how this year’s meetings have done with respect to affecting the market. Well, it’s a mixed bag. I think it has a lot more to do with context than it does with the FOMC actually moving the market. I think the only think we can observe from this small sample set is that the post-FOMC move lasts about 7-10 days before reversing.
Far more useful, and far less frequent, is Bear Force One (that is, those rare instances when I get on a plane and leave my beloved town). There is one forthcoming BFO event, indicated by the rightmost line, on August 17th. It also is a LONG time away, which could mean we finally get the multi-thousand point wipeout we’ve all been dreaming about.
