Nasdaq Tumble?
Today, we had the much anticipated Fed hearing and it did little to encourage markets in either way. This chart is based on what most experts, even the naive ones on CNBC are now expecting a modest correction of 15%. Checking on a few indicators here, we can see the MACD has crossed into bearish territory and couple that with the Fed raising rates, tapering, and inflation we can see something building up.
I do not believe it will be a market crash. Employment is up. The consumer is doing good. Debt is being paid off and there is $3 trillion dollars in saving/checking accounts. I do believe we will see a much needed correction.
I do not believe it will be a market crash. Employment is up. The consumer is doing good. Debt is being paid off and there is $3 trillion dollars in saving/checking accounts. I do believe we will see a much needed correction.
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