S&P 500 and Nasdaq went in cautiously to the Fed announcement, and intial selling gave way to buying the dovish perceived and intepreted message – just as I told you about in the pre-FOMC preps video. Yields retreated, dollar fell, and risk assets – led by tech – had a great time.
Sputtering in the risk sentiment just before the GDP outperformance and unemployment claims brought precious metals down, yields up and USD up – stocks keep being unfazed as the below chart (even before the data points driven hit to many a real asset) bring about only one red 30min NDX candle showed.
In such volatile times starting as of the Fed policy statement, I‘ll move on to Twitter to provide more daily coverage as the situation across assets is changing fast. Stocks though are likely to remain above 4,615 with ease, amid broadening breadth while tech barely notices the move in yields, which would have posed a trouble in other days.
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