The recent 2 years of US equity action has been full of commentary about the huge crash about to happen. And we’re at the all time high. Again price has broken below the uptrend but not confirmed. And price keeps going higher, even on red candle days.
For sure the FED will cut next week but that’s in the price already. A watered-down version of Basel 3 seems to be being suggested.
With the credit market in disarray, the FED has every excuse, not just to cut, but finish QT and set up yet another program to save the banking system. The stock markets will be looking through the immediate fog, looking for where rates will be 2 years out.