POWELL STOCK MARKET DIP AGGRESSIVELY BOUGHT, IMPORTANT DATA AND BLIND MONEY AHEAD
By Nigam Arora & Dr. Natasha Arora
To gain an edge, this is what you need to know today.
Important Data Ahead
Please click here for a chart of S&P 500 ETF (SPY) which represents the benchmark stock market index S&P 500 (SPX).
Note the following:
- The chart shows the dip in the market caused by Powell’s remarks. Powell pushed back against aggressive rate cut bets that the momo crowd has placed. Powell clearly said that the Fed plans on two 25 bps cuts this year assuming the economy stays on the expected trajectory. The momo crowd is counting on 100 bps cut.
October 1, 2024