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The Fed Has Never Raised Rates And Won’t Today 9/20/22

This is a syndicated repost published with the permission of Stool Pigeons Wire at Capitalstool.com. To view original, click here. Opinions herein are not those of the Wall Street Examiner or Lee Adler. Reposting does not imply endorsement. The information presented is for educational or entertainment purposes and is not individual investment advice.

This is it, right here. 3869. If that breaks, the baby dinosaur that has formed on the chart of the ES, 24 hour S&P futures over the past two days, will be euthanized. So sad.

The next likely stopping points would be either 3860, or the lows around 3833. On the other hand, if they hold back up we go to test the top of the range.

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Obviously with the Fed on tap, the norm is for muted moves. Nothing happens in the stock market until the FOMC rubber stamps the rate market that leads the Fed, and then Jerome Powell spews a bunch of BS and lies about what they did and why.

It’s funny that the media talks about the Fed raising rates. The Fed never raises rates. The rate market goes up on its own because money is tight. The Fed doesn’t even catch up with the market.

In fact, the real money market is up 105 basis points since the last time the Fed “raised” rates six weeks ago.

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So again, the next time you hear them say that the Fed has raised rates, recognize that the Fed has never, not once, raised rates in this cycle. It follows the market, and it has yet to catch up with it.

Meanwhile, the big picture:

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