Well, the Fed announced the expected interest rates hikes last week. No surprises in what they said. The market had a feeble rally and then went flat at the end of the week.
It looks like everyone is “watching and waiting” for something, although no one is sure what that is. This coming week is pretty light on economic news. The biggest thing affecting the markets will probably be movement on the Obamacare “Repeal and Replace” efforts in the congress. And of course, any breaking news that may come.
It is a tough trading environment and highlights even more the need to be careful and to use strict risk management in trading. There are still great individual stocks and sectors that are trending nicely.
Look for a new rally in Gold to be confirmed very soon, and continued downward movement in Oil.
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