If you know me, then you also know I paid close attention to what the Federal Reserve had to say at its latest two-day meeting and how the market reacted to it raising interest rates for the first time in three years…
If you missed it, the Fed ended up approving a 25-point rate hike and increased the number of rate-hike projections from three to seven times in 2022.
But what did the market do in light of all the bearish data?
Most people expected stocks and bonds to trade lower after the Fed’s announcement this past Wednesday…
However, that didn’t end up happening because the Fed gave us something we haven’t seen in an extremely long time…
It gave us certainty! So the market rallied…
And one industry that does wellwhen the Fed raises rates is the Financials sector, which hit its 200-day moving average as I wrote this!
In other words, financial stocks should benefit the most and there are some specific ones I’m targeting right now…
A Bearish Divergence signifies a potential reversal into a downtrend, when prices rally to a new high while the technical indicator refuses to reach a new peak. In this situation, bulls are losing their grip on the market, prices are rising only as a result of inertia, and the bears are ready to take control again.
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