The markets are waiting, we are waiting, the world is waiting to see what the FED is going to do this afternoon.
Traders that I am hearing from are mixed in their opinions. The consensus seems to be that we will see a cut of 25 basis points.
What if the Fed cuts 25 basis points and the market does nothing, what then?? The markets particularly the DOW and the S&P 500 are all acting a little tired but have not turned down and entered into a negative phase. Today could change all that.
The bright spots and strength have all been on the NASDAQ with APPLE, GOOGLE and RIM acting as the juggernauts of the economy.
It's going to be a volatile day, so fasten your seat belts and get ready for a scary ride.
Stay safe,
Adam Hewison
