2024 Santa Rally and More - Up/Down/Sideways
It's that time of year again. The final trading weeks of 2024 and the technical "Santa Rally" (trading through Christmas and New Year's) is upon us.
Unfortunately the FED put a bit of a cap on the extremely optimistic and borderline euphoria that was bubbling over going into the FOMC Rate Decision.
100 bps of cuts, yet the US10Y (10 year yield) has virtually moved in the exact opposite direction. Inflation is now a concern and this is a big reason for the FED's "hawkish cut" in December. The market will have to figure out how 1-2 cuts in 2025 looks compared to 4-6 cuts that was anticipated.
I don't think the 1 day FED move is enough of a correction to justify loading up on longs, so I'm looking for 200 EMA tests and better prices all around. If I don't get them, I suppose I'll just wait longer :)
Happy Holidays to everyone
Thanks for watching!!!
Unfortunately the FED put a bit of a cap on the extremely optimistic and borderline euphoria that was bubbling over going into the FOMC Rate Decision.
100 bps of cuts, yet the US10Y (10 year yield) has virtually moved in the exact opposite direction. Inflation is now a concern and this is a big reason for the FED's "hawkish cut" in December. The market will have to figure out how 1-2 cuts in 2025 looks compared to 4-6 cuts that was anticipated.
I don't think the 1 day FED move is enough of a correction to justify loading up on longs, so I'm looking for 200 EMA tests and better prices all around. If I don't get them, I suppose I'll just wait longer :)
Happy Holidays to everyone
Thanks for watching!!!
Chris Pulver
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