Chart Update, page-3387

Buysurge
Agreed. Real turbulence comes Wednesday with the Fed meeting, a week before Christmas
All reports here in the states are saying the following
Fed chair On Oct 3 said the economy is running " white hot" From that day most global markets down over 10%.
Although US has strong employment and a bit of wage inflation, the following are getting hammered
Oil
most commodities
housing
retail
mortgage applications. I could go on but it's a bit depressing
Key to Fed meeting
- do they raise rates next week. Consensus is yes because Trump has backed them in corner. Also markets could panic as it would be a confirmation that even the Fed thinks there is a global slowdown.
So even if they do raise, it's all about forward guidance. If they confirm it's data dependent ( remember they themselves predicted 3 hikes next yr)markets will like that. If they keep the dot charts and all the other nonsense, I think we break through this years lows.
To me, this will not only determine the slim chance of a Santa rally but the trading for the foreseeable future.
Thank goodness babies are not interested in Fed meetings, China retail sales, US retail pre holiday sales, just want A2 formula as does moms and Dads.
Your right I think, turbulence which is already pretty bad will either smooth out or we will all experience a big downdraft.
just my view