Technical Review

A Top in the S&P 500 Is Approaching

Many FOMC members have given speeches or interviews since the last FOMC meeting and the message has been fairly uniform. Paraphrasing: ‘ We’re not ready to cut the Funds rate until we have more confidence inflation will return to 2.0%, nor do we think there will be a need to increase the Funds rate.” J.P. Morgan quantifies FOMC speeches as to whether they tilt Dovish or Hawkish and the Sentiment Score has done a good job of leading the direction of FOMC policy moves. Remember the Federal Reserve believes Forward Guidance is an important component of monetary policy. Almost by definition...

About the Author

jimwelshmacro [at] gmail [dot] com ()