Morning Market Notes 05-08-25
Market Calendar
$SPX & $QQQ
Yesterday I was obviously wrong in expecting Jerome Powell to do what’s right for the economy and cut rates. He didn’t—and apparently, the market keeps pricing the first cut in July.
Mr. Too Late seems right.
The market didn’t react much to yesterday’s rates decision and press conference beyond the usual. We’re keeping the upside target in place for the upper 5700s on $SPX. From there, I’m expecting downside.
Let’s have a sesh.
