Well, after all the 'will they, wont they' the markets barley reacted when the move to raise was made. The Fed did basically tell everyone in advance what they were going to do. The problem for me was not if they raise, it is what happens if they have to reverse this decision. I believe they will reverse the rate next year if the macro economic outlook continues to deteriorate at the current pace. I believe this is false hope and this is far from over.
Stocks are firmer on the news
The 10 year yield has been up this week so have to see how it goes. Need to see a breakout of the wedge
I will be watching this JNK v SPX chart. This divergence has not been addressed. I'm not sure how this will play out. See if JNK breaks above the 15 day MA.
$USD is up but not much of a reaction initially.
Update: The $USD is down slightly by the close. Interesting. See how it goes.
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