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Market Outlook

The FED’s chair Powell announced another rate hike by 0.75 points but then commented that it is too early to talk about a rate pause or slow down. I think it is too late, as the economy is already tipping over into a free fall that the FED will not be able to stop. There is a high chance that Powell will overtighten the economy. The markets didn’t like it and sold off more than 2.5%. However, the VIX is still in contango, which means traders are not taking cover, and the market may reverse and rally again. We will still go to 200-day MA, although it will be a bumpy road. However, this still may change any day.

Market Outlook

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