Looks like we might actually have a good day today or maybe a good morning at least - I expect everything to go bang out of the gate and then fall through the day as it usually does.
The Yen strengthened through the morning and is currently chopping sideways so that's what I expect for the markets.
We have the Fed meeting this week and that should keep the market under control until the announcement. The announcement will probably be more of the same so there really isn't anything to look forward to there. I seriously doubt in the face of the PPI and CPI from last week that they will cut rates and there is a possibility that they might even hint at a need for an increase. If that happens the market will fall again. But on the other hand I'm told they put many billions into it last week to prop it up so why would they do anything to sabotage that effort? Wait and see.
At any rate I don't see us as being out of the woods yet so remain cautious but not fearful.
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1 comment:
Monday blues are common.
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