Dan Passarelli, CEO - Market Taker Mentoring

We got some more market news coming out today. We've come to the point where we're accepting that, boy, inflation is really high and out of control. And even the Fed governors are telling us now that they're looking at raising rates at least 75 basis points. There's chatter about maybe 100 basis points, which I'm not sure if that's even ever happened in the past.

There's even a little bit of expecting maybe rates to raise later this month ahead of the next Fed meeting. And the market didn't like that news earlier this morning. It was down, I want to say close to about 3%. But we came back and the market closed down just a quarter percent. It almost made it all the way back.

Why the rally? Why did the market recover like that? Because I think a lot of that news is factored in. The market accepts that interest rates are going to rise. I mean, we've known it for a while.

We've been talking about 75 basis points for a while. And so it's not really that big of news. We know the score, we know the game, and kind of know what to expect. A lot of that has been priced in thus far. And so this could be a little bit optimistic for the market.

We're going to see what happens when rates do rise. If that puts us into recession, that could have not just slowing effect on the economy, but also on the market. But in the short term, I don't think that the market is looking as dire as some people might have thought it was. We're going to be watching earnings. We've gotten some of those coming out next week.

It really ramps up. And the following week is the big important week that we all want to be ready for. And you can be ready for trading earnings if you attend my complimentary webinar this evening. Just simply go to the page that pops up next. (go to: markettaker.com/reg)