Submitted by [deleted] t3_zm5okq in wallstreetbets
Nothing about what happened today was bullish. Stocks have been pumping the past few months on the basis that Powell was going to pivot this month. He didn’t. He stated today was not the last rate hike and he’s going to continue to raise rates until we hit 2% inflation. Layoffs are beginning to hit and housing will take a shit. Earnings seasons is coming and stocks will puke. The largest war in Europe since ww2 is still happening. Oil is crashing despite opec cutting off millions of barrels. China just ended zero covid and once their health system is completely overwhelmed, they’ll probably go back to lockdown. The only positive note is that inflation has peaked but that’s only because the economy is starting to crash, and crash hard.
If you are bullish, you are truly regarded.