The stock market is in no man's land. Here's what investors should expect next

  • 📰 CNBC
  • ⏱ Reading Time:
  • 21 sec. here
  • 29 min. at publisher
  • 📊 Quality Score:
  • News: 106%
  • Publisher: 72%

Advanced Micro Devices Inc News

HP Inc,Dell Technologies Inc,Intel Corp

We are right smack in a most perilous moment: The Fed doesn't want to move too fast but the stock market does, and the Fed does not care about that.

All that and we're still not oversold. Last week, the Nasdaq fell more than 3% and entered correction territory, while the Dow and S & P 500 each shed more than 2%. But according to the S & P 500 Short Range Oscillator — our most trusted indicator of how to act during big upswings or huge downdrafts in the market — we're still overbought. At Friday's close the reading was 1.37%.

We had the spendthrift consumer, then the prudent consumer, the frugal consumer, the tightfisted consumer and then the consumer who substituted for cheaper goods and, finally, the consumer who went on strike. The strike is recent and it is happening in unimportant months. So who knows if Fed chief Jerome Powell is really wrong or just off by seven weeks — the time til the next Fed meeting.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock Market Today: S&P500 closes lower as Fed kicks off meetingStock Market Today: S&P500 closes lower as Fed kicks off meeting
Source: Investingcom - 🏆 450. / 53 Read more »

US stock futures mixed before Fed; Microsoft drops on disappointing earningsUS stock futures mixed before Fed; Microsoft drops on disappointing earnings
Source: Investingcom - 🏆 450. / 53 Read more »

US stock futures fall with Fed meeting, mega tech earnings on tapUS stock futures fall with Fed meeting, mega tech earnings on tap
Source: Investingcom - 🏆 450. / 53 Read more »

Spooked U.S. stock market faces tech earnings minefield, Fed meetingSpooked U.S. stock market faces tech earnings minefield, Fed meeting
Source: Investingcom - 🏆 450. / 53 Read more »

US stock futures rise with Fed, big tech earnings in focusUS stock futures rise with Fed, big tech earnings in focus
Source: Investingcom - 🏆 450. / 53 Read more »