Note: I am unable to make a video today due to travel plans. Thank you for your understanding.

The key technical takeaway from Wednesday’s FOMC meeting was that Equities continue to follow the movement in Treasury yields.  Rates and the US Dollar continue to push higher and despite the roller-coaster swings, stocks finished sharply lower across the board.  The sudden intra-day “Headscratcher” of a move in stocks higher shouldn’t have been much of a surprise to anyone watching yields.  The abrupt About-face in $TNX from 3.60 down to 3.50% was a big intra-day swing and stocks dutifully followed suit higher, echoing the Treasury rally.  Overall, it’s thought that dropping back down under 3800 following several days of attempted stabilization in S&P futures could drive the final leg down in Equity prices and up in $DXY and $TNX which ultimately culminates in a pullback under 3700 for SPX and near 3.70-5% in $TNX.  Once October, the so-called “Bear-Killer” gets underway, there should be an excellent chance of a bottom in many asset classes, brought about by bearish sentiment getting capitulatory, cycles turning higher and Yields, US Dollar rolling over.  At present, “Cash is King” and it remains early to take a stab at trying to...

Unlock this article with a FREE 30-Day Trial!

An FSI Pro, or FSI Macro subscription is required in order to access this content.

*Free trial available only on a monthly plan

Disclosures (show)

Get invaluable analysis of the market and stocks. Cancel at any time. Start Free Trial

Articles Read 2/2

🎁 Unlock 1 extra article by joining our Community!

You’ve reached your limit of 2 free monthly articles. Please enter your email to unlock 1 more articles.

Already have an account? Sign In

Don't Miss Out
First Month Free