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- The Fed Just Delivered Some Irrational Exuberance of Its Own
The Fed Just Delivered Some Irrational Exuberance of Its Own
Dear TheoTrader
Note: I’d normally share my market commentary at the open here but, given today was Fed Day, I thought we’d switch gears…
Another Fed Day has come and gone… and what a dud. Not only has the S&P 500 fallen off its daily highs, but - big picture - the central bank has completely failed to curb inflation. That’s despite all the cheerleading they’ve done over the past, I dunno, three years.
More to the point, that increasing correlation between the big tech mega-caps and the S&P 500 I’ve been calling out is… still increasing. That’s going to lead to a big change in the market. The buy-happy crowd that’s been gobbling up inflated assets at ridiculous prices is probably going to get wiped out.
TheoTrade Daily Chatroom Schedule for Thursday, March 21, 2024
9:20 AM to 10 AM: I’ll be calling the open like I always do
10 AM to 11 AM: Tony Rago will trade NASDAQ futures with NQ
11 AM to 12 PM: Professor Jeff Bierman will show you… “The Way”
12 PM to 1 PM: Gianni DiPoce look at the “post-Fed Day” market
1 PM to 2 PM: Blake Young will share some special charts
2 PM to 3 PM: Brandon Chapman shares some “triple threat” stocks
3 PM to 4 PM: Corey Rosenbloom will target the best swing trade prospects
This Is Almost Gone
If it were up to me, I’d leave it there forever - I did use it to help make triple-digit profits after all. But they tell me my “Catapult” presentation has to go. We’re leaving phones open for a few hours, so call Allen at 623-244-5657 or make a callback appointment right here.
We’ll talk again soon,
Don Kaufman
Co-founder, TheoTrade