Tuesday, June 18, 2013

The Fed Event

A lot of anticipation for some kind of fireworks for this Fed meeting on Wednesday.  Right now, it seems like the consensus is for the Fed to mention that QE will be data dependent, and that they are not going to be taper yet, with hints of a future taper.  What has happened over the past month is what has been going on for the past 3 years.  A weak emerging markets, a dead in the water Europe, and a beach ball like buoyancy of the US. 

S.O.S.  There is nothing new under the sun.  The S&P gets small scratches as the surrounding troops, the Nikkei, Shanghai, and Europe get maimed.  

I do expect a sell the news event on Wednesday, but if there is a pop on the announcement, I will look to short, not the S&P but Japan or emerging markets. 


Anonymous said...

thanks for the update!

overall, your view on SP is still "BTFD", correct?

Market Owl said...

Yes, of course, S&P is still BTFD. Today is a buying opportunity.