What’s it all mean? Are we at an inflection point in market land now, and the big bull market is over? Probably not just yet. That said, Quad hangovers can indeed extend several days, as traders reposition and rethink their futures roll outs. But make no mistake, the Fed’s statements, along with Bullard’s opinion, has changed the narrative some. We might see a much more volatile next two weeks as they try and square up all of this. Caution is warranted.
I mentioned to my readers that the first few days of this week could get bumpy in the equity markets. So, seeing them come back from the Holiday weekend and send the DOW down 277 points in the first hour, that prediction was on its way to coming true.