MONDAY: Another sharp decline in China to start the week, but our markets are showing no response at all as trading gets ready to begin. We’ll see how long that can last as traders begin to take sides on this week’s FOMC actions.
TUESDAY: China sinks again, but US futures are flat, as nothing matters right now other than waiting to see what, if anything, the FOMC will do once Thursday afternoon rolls around.
WEDNESDAY: This morning it appears that China is again the tail. being wagged by yesterday’s US market, as it is soaring while the US futures are getting ready to begin the day on a flat note
THURSDAY: Today is the day that we’ve all been waiting for, but the market may have already done it’s celebrating of the loss of uncertainty. Hard to understand why they have been so certain in what the FPMC will do as it hasn’t necessarily telegraphed its timing for actions or changes in tone very much over the last couple of years.
FRIDAY:. The market actually did the right thing this week. It was higher on anticipation of an increase in interest rates and then it went lower when that turned out not to be in the cards, finally realizing that such an increase would be reflective of a strengthening economy. Now we have to wonder where we stand as it looks as if the late day sell off will continue this morning
“SNEAK PEEK AT NEXT WEEK” APPEARS ON FRIDAYS