Well today the pivot 625 acted as resistance and the market failed miserably. Tomorrow's numbers are 622, 618 and 612. If 612 fails it will be a landslide. Just couldn't understand the Fed. They cut interest rate deeply to save the market, but one or two bad apples became talking heads today to warn against inflation and the market slided. They are not in sync at least they should have kept their mouths shut until the interest rate cut does it's magic. What is the point of having emergency 75 bps cut, if it is only going to delay the slide for a few days.....
2c
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2 comments:
You don't get it do you. They can come cut it to 0% tomorrow, and it will not stop the problems. When credit is tight, even 0% rate will not help.
If it costs you almost nothing to borrow...would you still put money in savings...LOL
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