Big dip in the markets yesterday after Powell doused hopes of March rate cut (while still leaving the door slightly open for the possibility).
But with markets having been so strong in the preceding weeks, how does that affect the directions of the indexes?
The Daily Direction
Note: All indexes closed significantly lower yesterday. But the only change in direction was the short-term direction of the Russell 2000 index dipping back downward.
The Daily Nugget
Be fearful when others are greedy and greedy when others are fearful.
Most people have heard this saying so often it’s almost become cliche.
And yet, despite it being so common – and true – most traders don’t follow it.
Because increasing your buying when everyone else is becoming more fearful is very emotionally difficult.
But look at what happened back in November last year. Market sentiment was at its lowest right before the blistering rally took off.
If you had been greedy when others were fearful, you would have made out big.
Now, something similar is happening on a smaller scale.
After the Fed’s presser yesterday, sentiment – and stocks – are falling.
This is an opportunity to be (intelligently) greedy when others are fearful.
That’s why later today at 12 p.m. Eastern…
Ross Givens is hosting a LIVE masterclass that will allow you to take maximum advantage of this opportunity.
And we’ll send you the login details shortly.
But don’t miss it – because this window could only last for a couple days.
Ross will see you soon.
The Traders Agency Team