The Fed concludes its monetary policy meeting tomorrow.
While they’re almost certain to hold rates steady, the question is – how dovish will their view be, especially in light of this morning’s CPI data?
Expect some increased volatility over the next few days.
The Daily Direction
Note: All indexes closed higher yesterday and the Daily Direction table remains a solid sea of green. It’s been a great December for the bulls.
The Daily Nugget
It’s dangerous to try to sell overbought conditions and buy oversold conditions.
Two of the most common market terms you’ll hear are “overbought” and “oversold”…
As in, the market is “overbought” (translation – it may be too high) or “oversold” (translation – it may be too low).
Some traders try to sell overbought conditions and buy oversold conditions.
This is dangerous – because it ignores the even more powerful effect of market momentum.
Selling overbought conditions is a recipe for missing out on the biggest rallies…
And buying oversold conditions is a recipe for buying into even steeper declines.
It’s a much better strategy to (intelligently) follow the market…
To take full advantage of its momentum – but without making the classic “buy high and sell low” mistake.
Right now, many are saying the market is “overbought”…
But with almost $6 trillion parked on the sidelines…market sentiment becoming more and more bullish… and the Fed possibly pivoting toward a more dovish outlook tomorrow…
The next big rally could be just over the horizon.
On Thursday morning, Ross Givens will be going live for his weekly session with his Traders War Room members…
Where he’ll be showing them how to hunt for the highest-potential stocks – the ones that could surge the most in the next big rally – in REAL TIME.
It’s still not too late to join Thursday’s session.
And he’ll even throw in the details of my #1 AI stock completely free.
Act before it’s too late.
The Traders Agency Team
Even Bill Gates himself has said that generative AI has “peaked” and that the next version of ChatGPT won’t be much better than the current version.
So where will the next wave of AI innovation – and profits – come from?