New quarter
As we entered the second quarter of the year, the US stock retreated for 2 consecutive days.
Some strong economic data on Monday had sent yields higher and reduced the odds of a rate cut in June - this could be the reason why we are having this little pullback.
But on Tuesday, Fed’s Mester said that she continues to expect the central bank to be able to cut rates this year, and June could be the start. Let’s see if this will calm the market a little.
Meanwhile, Powell is scheduled to speak on Wed. Stay tuned.
Some strong economic data on Monday had sent yields higher and reduced the odds of a rate cut in June - this could be the reason why we are having this little pullback.
But on Tuesday, Fed’s Mester said that she continues to expect the central bank to be able to cut rates this year, and June could be the start. Let’s see if this will calm the market a little.
Meanwhile, Powell is scheduled to speak on Wed. Stay tuned.
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OceansWave : There is also the possibility that some are cashing out for the new quarter as earnings season is coming into play… wait for various stocks to pullback more before entering… it’s also possible..
But using technicals, it’s behaving like a slight pullback.. QQQ held 438 which was the support for yesterday..
Cow Moo-neyOP OceansWave: Yup possible