FED DAY!
Uncle Ben and his gang started their 2 days meeting today and will be releasing their rate decision tomorrow.
The strong Durable Goods Order number today indicated that the economy is still stronger than most has expected and brought down Fed fund futures a little. It is now pretty uncertain what the Fed is going to do... 125 points cut within 7 days in this environment is just unthinkable.
So, here's the bottomline for tomorrow... 25 points, market down. 50 points, market still down. 75 points and above, market up instantly and then down within the next 2 days.
The strong Durable Goods Order number today indicated that the economy is still stronger than most has expected and brought down Fed fund futures a little. It is now pretty uncertain what the Fed is going to do... 125 points cut within 7 days in this environment is just unthinkable.
So, here's the bottomline for tomorrow... 25 points, market down. 50 points, market still down. 75 points and above, market up instantly and then down within the next 2 days.
Labels: fomc, fundamental analysis
posted by Jason Ng at 4:19 PM
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