FYI: The market continues to act very well; after a big run up the week prior to this there was some consolidation needed and that is indeed what occurred. There was some temper tantrum knee jerk reaction to the WELL TELEGRAPHED rate hike Wednesday so that was a bit amusing but all in all, the major indexes went nowhere for the week which is exactly what bulls would like to see following a major spike. Some people wrung their hands about the idea that there will be “3 rate hikes” in 2017 (up from the previous forecast of wait for it…. 2). Let’s rewind a year ago … “they” were telling us there would be 4 rate hikes in 2016. Not so much. But this year we may have Trumpflation so we’ll see if 2017 actually brings follow through.
Regards,
Ted
https://www.stocktrader.com/2016/12/18/weekly-market-recap-dec-18-2016/
