FYI: It is amazing how one word can change the whole trajectory of trillions of dollars worldwide. PATIENCE.
After entering the week severely overbought, indexes sold off modestly Monday and were near flat Tuesday. Then the Federal Reserve reiterated a very dovish stance – PATIENCE – and markets were back off to the races with sharp rallies Wednesday and Thursday. A nice employment report Friday didn’t move the needle too much Friday. So we remain in our V shape bounce; that’s six up weeks in a row – all thanks to one Jerome Powell/Yellen/Bernanke/Greenspan – it’s all the same in the end!
Regards,
Ted
https://www.stocktrader.com/2019/02/03/weekly-market-recap-feb-03-2019/
