I have been saying for over a year now; when the Federal Reserve shifts to communicating they are done raising interest rates we will have a rally, it may not be long term but there will be a rally. Well, here we are! In their December meeting the Fed not only communicated they are not looking to raise interest rates but they may be decreasing them next year. Oh boy, that surprised the market and provided a nice bounce on the day of the announcement.

We may see a mid December seasonal lull to digest the November upswing and the market pop from the Federal Reserve announcement. Then we may see an end of the year Santa Claus rally. 

What’s Next for the market in 2024?

The pros for a strong 2024

Cons for a strong 2024

Don’t read into less pros than cons. It really is all about the economy and how the market reacts to interest rate changes. Currently, potential interest rate decreases are built into the market’s values. The market wants to go up, and an election year may help support that. What will make the entire thing collapse will be a poor economy, that hurts company profits and doesn’t support the current “soft landing” narrative.

For now, the market has momentum. I would expect the market to slow to digest the recent rally. This may happen in mid December or early in 2024.

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