It's now clear that the first part of January has exhibited a marked change and reversal in pattern.
The Fed is always backward looking, and that's why the market is unsure of where to go for now.
I do think that the Fed is on the case. I do not think that the Fed is as late as so many seem to.
Powell: Basically, rate hikes are coming in groups, and later on, but still this year, the Fed will start removing this excess liquidity from the monetary base.
Omicron cases are cropping up in a number of cities, yet there's no sign Chinese restrictions will ease anytime soon.
Rising mortgage rates, increased material costs, labor shortages and supply chain issues are threatening to crimp building activity.
Some of the market has been in a correction since February, but the indexes and many big-caps have only been correcting for a week.
Insiders are selling because they understand that valuations don't reflect the fundamentals.
Plus, a look at rising mortgage rates and why SoFi Technologies is a stock for which I continue to hold out hope.
Here's what happens when market sentiment shifts.