Hey Folks, even though this week felt rather bearish, the actual numbers and price action gave us higher close than where we started. And we are clearly in a “Bad News” is “Good News” economic environment; –one in which I am sure you are all too familiar! Now it is the FOMC and Janet Yellen’s turn to offer up their prescription for what ails the markets…The markets currently price in around a 20% probability of a rate hike this coming Wednesday and a 50%+ chance of a rate hike before the end of this year. I believe her press statement will be most important because it will be here that she can send a signal to the markets of where the FEDs will go from here; Dovish vs Bearish statements will drive price action. Get my take on the current markets in my weekly round-up below:
Don’t Be A Rat Brain Trader — Trade Smart !!