To gain an edge, this is what you need to know now.

Kuo Apple Comment

Please click here for a chart of Nasdaq 100 ETF (QQQ).

Note the following:

  • The all important Powell speech is tomorrow.
  • As is their pattern, the momo gurus have been promoting a narrative ahead of Powell’s speech to run up the stock market.  Their narrative is that Powell would talk about slowing interest rate hikes.  This narrative influences the momo crowd to buy stocks but not prudent investors.  Prudent investors know that the Fed has already raised rates by a large amount and monetary policy works with a lag; it is natural for the Fed to slow down to see the impact of what it has already done.