“Stocks were relatively stable as Yellen started her press conference wrapping up the Fed's Open Market Committee two-day policy meeting, but fell sharply after she said the Fed's stimulus program would most likely be finished by the fall and that a rate hike could come as soon as early 2015. …the Fed said it will continue trimming, or tapering, its monthly bond buying program by another $10 billion, to $55 billion a month…The Fed also said in its statement that was dropping its 6.5% unemployment threshold for hiking interest rates, instead saying that it will strive for maximum employment and 2% inflation before any rate change.” Story at…
Trucking says the economy is OK.
Chevy couldn’t replace a 15-cent starter spring for 10-years, but Porsche is swapping entire engines after 2-failures. I guess that‘s what you get when you pay 200-grand for a car. Unfortunately, this story doesn’t apply to me.
With Market Internals down today (and over the 10-day moving averages that I track) and the recent NTSM sell signal, it looks like the correction may be back on the table.