Wednesday, September 18, 2019

A predictable no surprise market

Mid-week market update: Subscribers received an alert last Friday that I had turned tactically cautious on the market. So far, this has been a fairly predictable market with few surprises.

Rob Hanna at Quantifiable Edges documented how stock prices have been during FOMC days when the SPX closed at a 20-day high the day before. That's because the market had risen in anticipation of a positive announcement from the Fed, and the reaction is at best a coin toss.

Today's roller coaster market action was no surprise.

The full post can be found here.

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