SEPTEMBER RATE CUT INCOMING? (Eruptions Market Report 8-16-24)
- Aug 23, 2024
- 1 min read
According to historical data, we are seeing a 94% chance of a September rate cut.
It will be interesting to see how aggressive of a cut. It will either be 25 bps or 50 bps.
The market tends to price these things in early. Don't expect a significant reaction upon confirmation of the news.
EVERYTHING is buy the rumor sell the news, and vice versa.
The recent dump across the stock market was likely the pricing in of this news.
Of course, I warned you three weeks prior there was bearish divergence forming and to expect a correction.
Other than this, there wasn't significant market news this week.
Although I would like to point something out.
Almost everything coming out of the news right now is BEARISH NEWS... especially with regards to crypto.
Keep that in mind.
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