Are we looking at the beginning of a market correction? The Russell 2000 is saying yes. Time will tell whether the large cap stocks in the Dow follow the lead down–I can only see what's in front of me. I'm poor at anticipating moves to the right of the present…
US Stocks Give Up "Dovish FOMC" Gains As Russell 2000 Completes "Death Cross"
Courtesy of ZeroHedge
The narrative just a few short days ago was how 'dovish' the Fed was (despite their apparent hawkishness) and that clearly they would not act unless they were highly confident of future US economic growth (which they have shown almost perfect ineptitude in forecasting). The savior of any weakness in this meme was 'well the rest of the world will take up the money-printing mantle'… but that narrative broke this weekend. Only The Dow (for now) is still holding gains post-FOMC with the Russell 2000 down over 2% since then having completed its 'death cross' today.
Stocks have given up their post-FOMC gains…
The Russell 2000 completes its death cross…
Charts: Bloomberg
