We have been stating forever, both seriously and sarcastically, that the Fed would never raise rates. They have not let us down as they keep changing the bar and teasing away. Of course, this is all based on them being “data dependant” which simply means they have no clue what is going on but will let you know when it happens. Regardless of the masses saying that this time it is for real, we present you with some words and charts courtesy of Zerohedge. Hmmm!
Just saying. In case you are bearish for December…careful. Of course,anything is possible.
It took 6 1/2 hours to be down what we were down yesterday. It took the first minute of futures opening yesterday to get it all back. Short anyone?
Futures up nicely this morning as we head into December. No changes from yesterday. Bearish areas were roughed up (retail,biotech…) while strongest areas pulled back. That will reverse itself on the open. (dont look for reasons)
The one area that is popping up on our screens is the OILS. Nothing to do just yet but noticing the stocks outperforming the commodity as bases form at the lows as well as some mid-level areas. This group is underowned and underloved. Again, nothing to do but on our screens for now.