Dip Buying Mode With A Flattening Bias

"The November refunding, FOMC course, and payrolls on Friday are what is driving the market today. There is no updated dot plot for the FOMC, so any guidance could be seen as a tradeable impulse. I remain in dip buying mode with a flattening bias. Eventually, Jerome Powell will pivot, but it will not be the upcoming Wednesday. We are not in a recession, but may be in a textbook recession according to the yield curve," says Larry Shover.

Market On Close

28 Oct 2022

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