FOMC Jan 29 – A Post Mortem

BarroMetrics Views: FOMC Jan 29 – A Post Mortem

Despite the fact that the FOMC delivered all the market could have expected, US stocks took a nosedive last night:

  1. The DJIA was down 189.77
  2. The S&P was down 18.30
  3. The NASDAQ was down 46.53
  4. The Russel 2000 was down  15.79

The currency sell-off in the emerging markets copped the blame; but there was a time when the US stock market would have cared little about the goings on in the emerging markets.

The question I asking myself: are we seeing the start of a break in the belief that the FED will sustain the stock market?

For me, it’s too soon to tell.

In any event:

  • there are no 18-period swing change in trend pattern in the offing, and
  • normally, stock market tops take time to form

so, my strategy remains the same: ‘long or out’

7 thoughts on “FOMC Jan 29 – A Post Mortem”

  1. hi Ray,
    A very Blessed Lunar New Year!

    Just curious, how did the markets perform during the “Horse” years(despite FOMC decisions)?

    At least, psycholgically, does it have any effects on the sentiment of the Chinese traders/markets?

  2. Hi Paul

    All the best for CNY to you and yours. Have a fab hols!

    As for your question – the short answer is ‘I don’t know’. I have never looked at it from a Chinese Year view point.

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