not a chance. the fed is in a bind with higher rates in euro, etc. if it cut rates, the usd falls further and thereby excaberating inflation.
i suspect it will hold out and only act if the market crashes or til there are more obvious signs that their economy is crumbling.
and fwiw....a fall to around 5000-5200 would result in a breakdown below the 500 day moving average and then we are more likely in a bear market than bull for the next few years. so, let's hope we don't see those levels.
1987 , page-61
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