Market On Open, Wednesday 29 October
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FOMC. Anything Can Happen.
by Alex King, CEO, Cestrian Capital Research, Inc
There isn’t much to say in the hours before an FOMC decision and a press conference. Within reason, orders are already placed for any given outcome. Then you have the pre-planned response to whatever Chairman Powell has to explain at the press conference. And then you have the psyops on top; if the rubes think the market should go up, take it down for awhile, and if the poors are getting all antsy and think the market should sell off, bid it up big!
There is literally no point in my experience trying to work out what the market reaction will be to FOMC. Better to just get it over with, watch the fireworks, and then either maintain or correct your course. That’s all anyone sensible should do. Otherwise it’s just gambling, and there’s no problem with gambling, but it’s not investing or trading.
OK let’s get to it. Let’s see how markets stand in the runup to the Big Event.
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