The Most Important Proclamation In The FOMC Press Conference (And It's Been Ignored, Again)
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MarketGauge1.17K FollowersFollow5ShareSavePlay(15min)CommentsSummaryDespite the largest level of Fed governor disagreement in years, the market’s initial volatility gave way to a broadening of the bull market in response to the FOMC meeting.Small caps (IWM) hit new all-time highs, and the S&P 500 equal weight ETF (RSP) also hit new all-time highs. The number of NYSE stocks at 52-week highs also hit a level not seen in a long time despite the bull market.The market’s focus on the Big Tech debt is a problem for the performance of the major indexes, but this is a healthy concern for the long-term durability of a bull market, and if Chair Powell is correct, there is good news on the way.Last week, the market rotated into areas that have been strong and can continue to lead as tech takes a well-deserved break. ImagePixel/iStock Editorial via Getty Images By Geoff Bysshe The reporting on last week’s FOMC press conference was all about the very topic that Chair Powell had predicted (and forewarned) in the prior meeting. The topic wasn’t the rate cut, andThis article was written byMarketGauge1.17K FollowersFollowMarketGauge was founded 25 ago years by successful floor traders turned hedge fund managers. Their experts have over 100 years of diversified experience as professional traders, technologists, and educators. MarketGauge’s mission is to provide strategic and actionable information that empower novice to professional investors and advisors to surpass their financial goals. We accomplish our mission with educational courses, proprietary trading tools, and proven quant-based models. MarketGauge’s core philosophy is to identify both the biggest macro trends and emerging ones using our proprietary tools / indicators and proven trading models. MG employs short-term tactics derived from years of highly successful floor trading to precisely maximize profits and minimize risk. Price action is the primary driver. However, MG layers in fundamentals as well. MG is committed to trading with a methodical, systematic and repeatable approach. MG believes that is the key to success. Their philosophy is counter to the commonly disseminated tactics by many Wall street analysts. They believe that passive management and buy and hold is downright dangerous. Furthermore, all MG’s investing models include track records with daily and weekly updates. Their performance is always transparent. Since inception, MarketGauge has supplied market analytics to some of the biggest financial institutions such as Barron’s, Fidelity, as well as thousands of individual investor and active traders. Their insights can be found at Benzinga, Stocks and Commodities, TalkMarkets, Investing Shortcuts, AAAII , and Traders Library. CBS MarketWatch rated our twitter feed as one of the top 50 to watch for financial information.
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