QQQ is at the 100 day moving average. If you are not into stocks don’t bother with this one…. it will be boring. For me it is almost like watching a sporting event.
Powell said yesterday that he is commited, and will be for a long time. Expect 0.75% again (meaning the housing market will continue to crash — just find an article and look at the chart). He expects pain for some. Doesn’t specify, but experts say our unemployment has to go to about twice where it is now. Corporate profits and things like bitcoin have to fall to help get rid of the feeling growng out there — that ‘I deserve a raise’. He wants people to be grateful they have a job.
The market does this often. Everyone expects one thing and it does the opposite. Opened up 1% today and I still expect it to fall, once the flurry of initial orders goes away. The thought is that if Powell keeps acting so aggressively, he will be successful more quickly…. and during the next recession eveyone will forgive the temporary drop in corpoate profits. Maybe. Why knows. I’m not that optimistic.
Off for another INR draw. Fried chicken with spinach or kale tonight– one of my favorites. I’ll be back sometime this weekend. Everyone reading– enjoy the weekend, even the rain. A beautiful day out.