The important bottom line is we have the fess up, in print, from a guy in the know that the Fed really does target stock prices.
Most indexes have broken support with no signs to suggest consolidation is complete.
You are more likely to encounter an albino deer in the forest or shake hands with a friendly sasquatch than realize that interest rates have hit neutral territory.
Market breadth weakens.
One must accept that the FOMC is probably very close to being quite aggressive and being so aggressive quite unanimously.
On Tuesday, Fed Governor Lael Brainard spooked the market with comments about the likely path of Fed policy.
From rising interest and mortgage rates to high food and fuel prices, there are reasons for investors to be concerned.
Forward earnings estimates for the S&P 500 have gotten a lift.
Investors were aggressively selling the stock of any company that moves freight. Not typically a good sign.
Leave the dreams to Cathie Wood and the misapprehensions to the Fed.