Macro’s Take Over Now
With the FED bounce now behind us we can look at the various scenarios that could develop here:
- The FED does nothing, Macros take over, stocks go lower
- The FED raises rates, Macros take over, stocks go lower.
One thing to be aware of is the fact that the Nasdaq chart bounce has a potential two to three day island at the moment. If this is completed by a gap down in the next few days, you could be looking at a big trade on the downside.