Trade Wars and Fedspeak Plunges the Dow and S&P 500 – The Charts Say?

The great TaperCaper rolls onward while our new Fed Chair, Jay Powell, and the financial presstitutes yucked it up yesterday during his first post-FOMC press conference. Heck, there was not a question asked of Jay about the current LIBOR rates debacle, and we thought Yellen’s Q&A pressers were sh*t-shows? Ever since 2011, the Fed’s economic projections have performed worse than desired. Consider the current GDP projection from the Atlanta Fed for 1Q18 where the initial projection was 5.4% last month, now revised down to a paltry 1.8%. Inflation is unable to break the 2% barrier. Retail sales have been in the crapper for three consecutive months, as delinquencies on consumer revolving credit are on the upswing. Meanwhile, the Fed continues to jawbone inaccurate models to justify higher interest rates, with one quarter-point piker’s at a snail’s pace since December 2015. My brain is exploding, so let’s get on with the charts!

$SPY SPDR S&P 500 ETF Daily Mar. 22, 2018 Close…

Read the full article and chart technical analysis by TraderStef at CrushTheStreet – originally published on Mar. 22, 2018.

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