“Don’t fight the Fed.”
— Martin Zweig
On Friday, talk of the Fed talking about QE (quantitative easing) bolstered bulls. A negative trading session turned positive to close the week looking higher.
Fed Chair Powell has yet to go into Helicopter Ben territory, beyond QE, but his overtly dovish turn with Trump raises concern.
Over the weeks ahead, we shall see if such jawboning keeps the market rebound going and overcomes the development of bearish patterns in stock indexes.
Enjoy your weekend!