Market – Good News Is Good News!

February 2, 2024
Author: Peter Stolcers, Founder of OneOption

Don't trust the headlines. The fact that the Fed will not cut rates is a testament to how strong our economy is.

We have an excellent backdrop for the market. People have jobs, they are making more money, they are spending money, corporate profits are excellent and credit risk is low. Does this sound bearish to you? From a technical standpoint it does not get any better. We have not even seen any dips in the last 3 months. Red candles are immediately erased. That tells us buyers are in control.

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