by mark000
FOMC in September not dovish
ATH in first week of October
Powell says many more rate hikes to come at some interview, market wants no more hikes
6 sessions after ATH we were -6%ATH
9 weeks later (December 13) we were still only -8%ATH after lots of funtimes on the stock market roller coaster
Then 4 days later was Dec’18 FOMC and we closed at -13%ATH
FOMC failed to be dovish enough, and 3 sessions later we saw -20%ATH
Bottom was in because around then the FFF priced out all rate hikes for 2019, within a week the Fed confirmed as much and the all clear was official.
Similarities to today:
ATH in late July
Then FOMC not dovish enough
9 sessions later -5%ATH
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