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Powell's Prepared Statement for the Nomination Hearing


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#11 redfoliage2

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Posted 12 January 2022 - 09:55 AM

It looks likely we may see a relief rally if tomorrow's CPI is not horrible enough .............................

Here it is .........................................................................................................................................


Edited by redfoliage2, 12 January 2022 - 09:55 AM.


#12 redfoliage2

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Posted 12 January 2022 - 10:54 AM

A bullish reversal was made from the swing bottom.  We should see the market generally going higher in the reporting season ............................


Edited by redfoliage2, 12 January 2022 - 11:00 AM.


#13 redfoliage2

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Posted 12 January 2022 - 11:35 AM

The intra-day dip will be bought quickly and I see the market will close at high today.  This swing up cycle just started with SPX new highs entirely possible  ................................


Edited by redfoliage2, 12 January 2022 - 11:40 AM.


#14 12SPX

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Posted 12 January 2022 - 01:13 PM

This exciting, red versus blue, one of you guys will be right, I'm just gonna trade lol!!  yes.gifpop.gif



#15 redfoliage2

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Posted 12 January 2022 - 02:47 PM

This exciting, red versus blue, one of you guys will be right, I'm just gonna trade lol!!  yes.gifpop.gif

There will be VST dips as the market has recovered a long way from the low.  However, this swing cycle should take SPX to new highs.  At this juncture I consider dips buying opportunities ......................... 


Edited by redfoliage2, 12 January 2022 - 02:55 PM.


#16 redfoliage2

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Posted 13 January 2022 - 08:53 AM

Regarding Fed policy normalization he said ...........normalization, its a long road to go........... Totally different from the outlook from some Street analysts.

December PPI just out.  The leading component (MOM) down to 0.2% from 1.0% in Nov. in a down trend.  The lagging component (YOY) also down from 9.8% to 9.7%.   Now we should understand why Powell said on Tuesday at the Senate confirmation hearing the Fed policy normalization will be a long road to go.  He must already have known Dec. PPI and CPI then .........................


Edited by redfoliage2, 13 January 2022 - 08:58 AM.


#17 redfoliage2

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Posted 13 January 2022 - 10:20 AM

 

Regarding Fed policy normalization he said ...........normalization, its a long road to go........... Totally different from the outlook from some Street analysts.

December PPI just out.  The leading component (MOM) down to 0.2% from 1.0% in Nov. in a down trend.  The lagging component (YOY) also down from 9.8% to 9.7%.   Now we should understand why Powell said on Tuesday at the Senate confirmation hearing the Fed policy normalization will be a long road to go.  He must already have known Dec. PPI and CPI then .........................

 

So forget about the Street propaganda that the Fed will embark radical moves this year.  I see the Fed will not touch balance sheet reduction this year - it's a long road to go.....................................


Edited by redfoliage2, 13 January 2022 - 10:21 AM.


#18 redfoliage2

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Posted 13 January 2022 - 12:37 PM

The market got a due consolidation today after the recent gains from a bullish reversal at the low.  I see the dip will be bought and the swing up cycle will continue .........................


Edited by redfoliage2, 13 January 2022 - 12:46 PM.


#19 redfoliage2

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Posted 13 January 2022 - 03:09 PM

The market just over-reacted to Brainard's remarks in the Senate hearing.  Very different from what Powell said the other day.  But from what she said I see she is not qualified for the position, though she is just trying to plead the Senate, not much analytical  ...................


Edited by redfoliage2, 13 January 2022 - 03:10 PM.


#20 redfoliage2

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Posted 13 January 2022 - 03:16 PM

The market just over-reacted to Brainard's remarks in the Senate hearing.  Very different from what Powell said the other day.  But from what she said I see she is not qualified for the position, though she is just trying to plead the Senate, not much analytical  ...................

But think about it - who is the Chair?  I'm glad Biden made the correct decision when nominating the Fed president.


Edited by redfoliage2, 13 January 2022 - 03:18 PM.