Wednesday, March 15, 2017

Very quick market comment

Algebra test today, no time to chat.

But as far as the market goes:

Sure, S&P and Nasdaq charts look fine, but $TRAN is giving a negative signal.

We'll have to see how the market responds to the Fed today.

And how it responds to that response on Thursday and Friday.

Frankly, I don't think 3 rate rises this year will be bad, for either stocks or the economy, since sentiment is positive. But all that matters is what the market decides to think.

PS came across a hilarious McGrattan & Prescott paper from fall 2000, where they thought the market was undervalued. Just goes to show you that economists don't know jack.

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