Losing my touch - or am I?

OK I could not have been more wrong about today. Here I was feeling pretty bullish but realizing that it would be difficult to break the all time high given the news and the time of year; however I did not expect today to be the day of realization.

By realization I mean what does it actually mean when the Fed pauses interest rates - in actuality it has little to do with anything - but in the the esoteric big picture it is an indicator as to what the federal government feels about the economy and in this case it thinks that things are pausing from the incredible growth we have had. We have had so many increases that wall street was just waiting and then begging for a pause and then when it happened the stock market kind of just sat there for a little bit and lately we have had a nice rally with all the signs that the Fed was going to continue the pause. - NOW today some realization may have hit home a slow economy is not good for the stock market and today there was some bad news for manufacturing a sign of economic slow down - bad day for the market. However with new support at 11,500 we still closed above it we shall see what happens.

No Tags