A rough day...because I had two urgent business meetings and COULD NOT TRADE as I wanted!
Anyway, I did not miss much and NQ was actually up. The BULLS still have the advantage as long as SPX closes above 2800.
So, why is the FED so darn dovish? are things so bad?
And, some tough talk from TRUMP with a TARIFF threat; so far, this is just a show across the bow in an attempt to get more
from the Chines but it would help the markets if there is more finesse and less bluster.
This from WSJ:
By Ben Walsh | Wednesday, March 20
Worryingly Dovish. The Federal Reserve delivered pretty much what investors expected on Wednesday afternoon and announced that the Federal Open Markets Committee had left rates unchanged.
Then, it went a bit further and said that there would likely be no rate increases for the rest of the year.
That sent the the Dow, which had briefly turned positive, down 141.71 points or 0.5%, while the S&P 500 dropped 0.3%. The Nasdaq ended up a hair, rising 0.1%.
The Fed cut its forecast of 2019's annual growth rate to 2.1% and pointed out that inflation has softened to just about 2%.
Investors appear to be worried about the extent of the Fed's newfound dovishness. If four rate hikes in 2018 were seen as too hawkish – and the slide in stocks late last year indicates that they were – then no rate increase in 2019 seems to be viewed as the actions of a central bank trying to avoid a potential economic hiccup or downturn.
"Equity markets are wondering what the Fed is seeing they are missing,” NatAlliance Securities’ Andrew Brenner wrote.
"The Fed gave the markets everything they expected, though came across even more dovish than anticipated," said Vanguard's chief economist, Roger Aliaga-Diaz.
DJIA: -0.55% to 25,745.67
S&P 500: -0.29% to 2,824.23
Nasdaq: +0.06% to 7,728.97
The Hot Stock: Netflix +4.6%
The Biggest Loser: Viacom -5.5%
Best Sector: Energy Minerals +2.7%
Worst Sector: Finance -3.7%