The Fed indicated in its minutes there might be a rate hike, sometime, particularly if the President gets his fiscal stimulus and corporate tax cut plans going. But, the Fed also feels those won't likely happen, just as it was not likely for Trump to get elected . . .
The stock market has range-traded all session, moving up off a weaker open. DJ30 made is positive, the other indices stalled at the Tuesday close. Basically showing doji on those indices as the market pauses after that solid price start to the week.
SP500
FOMC blustered about a rate hike. Ho hum.
Existing Home Sales: +3.2% as prices rise over 7%. Decade high for existing sales.
We are looking at positions on CORT, SOHU, OIH. Ready to close CNAT, PTEN.
Jon Johnson, Chief Market Strategist
InvestmentHouse.com
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