Market Report Jun 16 2022

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Market Report for Jun 16 2022

Market Percent Changes

S&P 500 and Nasdaq Daily Charts

Intraday Stock Market Price Action

As expected, FOMC raises the rates by 75 basis points and also suggested additional increases, which was quite obvious and no surprise. The range projection in 2022 for fed funds rate is 3.1% – 3.9%.

While the market reacted favourably with a bullish session, the number of up bars was not dissimilar to the number of down bars and volume was higher than normal.

The ECB held an emergency meeting to discuss the bond fragmentation issues and today the BoE is expected to hike rates for the fifth consecutive monetary policy meeting in an attempt to try and curb inflation.

Probably safer on the beach than to go back into the water right now.

Javid and Anne morning walk on the beach before the stock market opens

Let’s go trade!