It isn't about what's really happening, it's about how people percieve it. When Fed first lowered rates in Aug/Sep people percieved that this was a good thing and the govt would save them, wasn't long before the perception changed to see the REALITY that they can't and since then market has been going down no matter what the fed has done. XJO has perception that US recession will rub off,but has fallen harder because people believe interest rates will rise/ double whammy. However Australia is not in the same situation as US, but perception will take time to change. Short term biggest factor will be interest rates, if they rise will be percieved as bad although it shows a strong economy, however if held, market perception will be positive and market will rally.
PERCEPTION IS EVERYTHING
perception
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