Arete Trading Weekly Report
š„Elusive Fed Rallies Nasdaq š
The Elusive Fed rallies the Nasdaq to All time highs! The Fed meeting ended today with resounding confusion from the equity markets. Financials such as the regional banks rallied on the news that rate hikes were imminent. On the flips side the Nasdaq made all time highs because it looked like they might not raise rates. To say the Fed is being obtuse is an understatement. While the announced it will taper it left massive room to interpretation on what that will look like. The quote :ā We are prepared to adjust the pace of purchases if warranted by changes in the economic outlook.ā This set off confusion in the indexes at first with financials and tech not sure what to make of it. At the end they both decided it was good for all equities and the markets rallied. I have always said, Itās not what the news is, itās how we react to it. We reacted by the SPY and QQQ making all time highs. We reacted with the IWM breaking out of its year base to new highs today. We had a massive broad based rally and that is what matters. For now with the major earnings behind us and fed meetings. We have nothing on the horizon until Nov 10th which is the next CPI. Until then it looks like blue skies above. Please take a moment to review the stocks. A lot of stops have been raised.
Letās Look at our Indexes !
Letās Look at our Stocks!
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