The Fed Just Delivered Some Irrational Exuberance Of Its Own
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Another Fed Day has come and gone… and what a dud. Not only has the S&P 500 fallen off its daily highs, but - big picture - the central bank has completely failed to curb inflation. That’s despite all the cheerleading they’ve done over the past, I dunno, three years.
More to the point, that increasing correlation between the big tech mega-caps and the S&P 500 I’ve been calling out is… still increasing. That’s going to lead to a big change in the market. The buy-happy crowd that’s been gobbling up inflated assets at ridiculous prices is probably going to get wiped out.
I’m not just ranting - I’ve got the proof right here…
Video Length: 00:10:47
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