Game Changing Action
The market has traveled quickly from a potentially bullish setup to a possible Investor Cycle Top. Although it can always change, the trend is now distinctly downward, and there are still many weeks before we should expect an ICL. The big variable on every time frame is the FOMC meeting next week. But regardless of what the FED does, my bias is now firmly in the bearish camp. I believe the market could be in for a very sharp decline in the coming weeks/months, especially if the FED decides to raise rates at next week’s meeting.