Well, that was it today. Powell said what we expected anyway, that the FED is slowing down their interest rate hikes, and the market melted up this time. It amazes me how irrational the market is. Just a few days, even today morning, everybody was selling everything in fear of recession; Morgan Stanley’s analysts Mike Wilson just issued a double-digit selloff warning, and in the afternoon, the same people were chasing the market up 3.28%. Well, that brought the market above its 200-day MA. Will it stay there? Or will we erase it all tomorrow? This week will be crucial.
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