Stock Market Analysis - 08-05-2008
August 6, 2008 at 12:26 am · Filed Under Broader Market
The markets surged today after the fed made the fully expected no rate change call. The stagflation risk looms though with the fed acknowledging inflation worries as the reason for not lowering rates (as opposed to saying the economy is doing fine and doesn’t need a rate cut for growth). For such a big jump, the market had pretty weak volume today. That leads one to believe that the market will not be able to sustain any push above 130, but as always you should trade what’s happening and not what you believe. We’ll see if tomorrow brings any sort of positive follow through.
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