Jerome Powell Releases the Krackens

(12/15/22) Fed Reserve CHairman Jerome Powell left no room for misunderstand the FOMC's decidedly hawkish position, raising interest rates another 50-basis points, and promising more to come. Absent the possibility of pivoting, markets responded by selling-off, but holding the 20-DMA. The realization that the Fed is intent on creating higher unemployment and pain in the economy in order to quell inflation brings a new challenge to the 100-DMA. Markets have been trapped in a narrow range between the 10-- and 200-DMA's. $3.2-Trillion in options expirations tomorrow could produce a wide range of possible results. We think 4,150 is the most reasonable target for the S&P between now and year-end.
Hosted by RIA Advisors' Chief Investment Strategist, Lance Roberts, CIO
Produced by Brent Clanton
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