SMART Money Flow Index Keeps Tanking
The S&P 500 Index extended its drop since September to almost 15 percent on Wednesday, barreling through its February intraday low and leaving the equity benchmark about 162 points from its first bear market in a decade. The chief culprit: Federal Reserve Chairman Jerome Powell’s indication that market volatility has done little to change the central bank’s rate path or to alter efforts to reduce its balance sheet.
The SMART Money Flow Index continues to fall as The Fed Grinch keeps talking.
Even Japan is seeing a bear market, courtesy of their central bank.
Fed Chair Jerome “The Grinch” Powell.
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