Another crazy event this week involving the Federal Open Market Committee (FOMC). Chairman Jerome Powell remained hawkish and the market responded.
In typical FOMC manner, the first market move was very strong and happened to be upward. Then, after about an hour, the buzz wore off and the market realized Powell wasn’t messing around and so the market started to sell off.
Was the down move a surprise? No, and let me show you why:
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Your Profit Pilot, TG