Here's what we need to get a bigger rally.
Despite Wednesday's hit, XLE remains the only sector SPDR ETF still up year to date (+34.8%).
It's really very simple.
Now is not the time to build longer-term positions.
I have never seen a market downturn end on its own, without the Fed turning dovish as a catalyst or in response to some crisis-level situation.
Here's what to expect from the central bank Wednesday and how markets may react to their decision.
There is likely to be plenty of shoving and pushing as traders position for the reaction to the Fed news.
Something is going on behind the scenes, and I am back to very nervous on risk, including bonds and commodities, not just stocks.
Put on your oven mitts.
Inflation is boiling and the expectations for hikes will skyrocket. But here are my real worries as I try not to talk myself out of buying at these prices.