What do you guys think is going to happen to the main markets after tomorrow???
If we teeter at these levels going into 2:15, then I think we're gonna get hit hard. A nice decline would have been healthier for the markets today IMO and would have allowed TPTB to spin something out of the statement to reverse the sell-off.
Opinions????
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I don't think they can lower.
Oil and commodities continue to pressure upward. Tensions w/ Iran/ Israel are getting high and dollar is still going south. RE market is in bad shape, expecting corporate earnings to further detiorate into year, and P/E ratios to adjust (downward)
If they raise, they screw the home market even harder. I don't think they can do that now - they're literally painted into a corner with the house on fire.
I expect they'll stay pat with threats to raise at any time in near future. Expect market to bounce around pretty nicely tomorrow, test March lows and have no idea if they'll hold or if we get a sucker rally (key word being sucker).
These FOMC meetings are unpredictable at best, though - best idea is stay light until after the news and stick to your thesis then.
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