Courtesy of John Nyaradi.
I predict a decline for the bulls today due to the Fed and taper worries
T
he Fortune Teller Speaks:
I predict a stock market loss for the bulls today, as investors anticipate the Fed meeting and possible taper.
All Eyes on Wall Street:
All eyes on Wall Street will be focused on the Fed this week, and all eyes will be looking for any hint of a stock market taper. This upcoming Fed meeting is also Dr. Bernanke’s last, and many do wonder what a Janet Yellen Fed will look like, if any different. Either way, the idea of tapering is on everyone’s minds, especially those who do not want the easing to stop.
Today we are also due out for the Empire State Index Report at 8:30 AM and the Capacity Utilization and Industrial Production reports at 9:15 AM, so at least investors have some data to knosh on in the meantime.
Hindsight is a Beach and We’re Playing on It:
Last week we were correct four out of four days, with the exception of the S&P 500 (NYSEARCA:SPY) on Friday. The S&P 500 (NYSEARCA:SPY) lost .01% while the Dow Jones Industrial Average (NYSEARCA:DIA) added .10% and the NASDAQ 100 (NASDAQ:QQQ) added .06%.
Greed or Fear?
Investors are definitely spooked by the Fed. That seems pretty clear to me at this point.
Fun Fact:
A woman in Naples Florida woke up one morning to three bears in her swimming pool. I think its a sign of a bear market today.
My Secret Sauce is Red:
I think we are looking at a red stock market today because of the Fed, pretty simple.
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