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Started By
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what happen to the Market today?
Posted on 1/6/23 at 2:09 pm
Posted on 1/6/23 at 2:09 pm
Why the big pop? Is it just a relief rally?
2
Posted on 1/6/23 at 2:20 pm to FLObserver
You can assign whatever news you want to it, but it’s a short term technical rally after trend found temporary support and held effectively. Rally going hard bc it broke moving average resistance mid day
Posted on 1/6/23 at 2:22 pm to Upperdecker
Ah no real news then just the usual out of nowhere lift off or selloff. 
Posted on 1/6/23 at 3:22 pm to Upperdecker
quote:
You can assign whatever news you want to it
I pick wage growth cooling...
Posted on 1/6/23 at 3:34 pm to UpstairsComputer
quote:
I pick wage growth cooling...
Agreed. So the market screams because they think Powell slow down. Next week Powell will say we are staying the course and it will crash down again. Just like it has been doing for the recent past. This has been a textbook "don't fight the Fed" situation.
Posted on 1/6/23 at 4:53 pm to FLObserver
I've long thought that the change in Congress would have an impact since hopefully the binge spending that is a big factor in inflation comes to a halt.
It's really dumb to have government binge spending at the same time the Fed is jacking up interest rates to control inflation. Hopefully we are past that folly now.
It's really dumb to have government binge spending at the same time the Fed is jacking up interest rates to control inflation. Hopefully we are past that folly now.
Posted on 1/6/23 at 5:31 pm to Auburn1968
quote:
since hopefully the binge spending that is a big factor in inflation comes to a halt.
This is not the 1990s. Republicans binge spend, too. Gov’t tells citizens to save while it goes $31 trillion behind the line.
The market went up on labor and wage growth slowing. The fed has been clear there will be no stopping or pivoting this year. Until unemployment rate is equal or above CPI they are not going to stop raising and certainly not lowering rates. Tough slogging the first 1/2 of this year in derivatives.
This post was edited on 1/6/23 at 9:04 pm
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