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GM: Yesterday’s NO CONFIDENCE vote by the Fed. on the economy IS having an effect on the stock market this morning. Prior to the Fed. announcement yesterday on rates, I put out this statement below in my newsletter: IF there is no hike today, the stock market may respond in a negative way over the next few days. Why? No hike today, IMO, would send a signal to the market that the economy is weaker than the Fed. is allowing us to know. On the back of this, the MMRI has now hit 291, just 9 points away from EXTREME risk and stock market futures are deep in the red.
I completely agree with you, Greg, however, in my city, life looks normal. People driving to work, grocery stores full of food and customers. Nevertheless, I also understand that if bank accounts are suddenly closed and the power grid is shut down, life will change in one hour.
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