No surprises from Fed - where do we go from here?
(5/5/22) Jerome Powell's announced 50-basis-points rate hike was as expected--but the Fed added a dovish tone by slowing the rate of tapering on its balance sheet. With Professional and Retail investor sentiment at some of the lowest levels we've seen, and positioning very, very light in equities, the bit of good news was all Wall Street needed to stage a 3% rally, pushing up to resistance at the 20- and 50-DMA's. If markets go there, that's the signal to raise a little cash, take some profits, and clean up your act. We're not quite out of the woods; with a short-term buy signal triggered, money flows positive, and the MACD starting to turn upward, this is the bullish octane markets need.
Hosted by RIA Advisors' Chief Investment Strategist, Lance Roberts, CIO
Produced by Brent Clanton
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