The stock market today is like a school bully. It just keeps on punking the bears and doing the honeybadger thing in the face of worsening economic data. One of these times though, Yellen is going to hike rates and the whole market and economy is going to come crashing down IMO. The bully is eventually going to get what’s coming to him.
Stock Market Today
The stock market today continues to favor the Bulls. With major support levels holding on the Nasdaq and S&P 500. However, the Federal Reserve is increasingly have more of a central roll in market direction as it raises interest rates and looks to unwind its $4.5 trillion balance sheet.
In today’s show, I look at the key technical levels on the major indices as well as explain why I think this Fed meeting is the most important one in years.