BY ANDREW GIOVINAZZI
February 22, 2024
Yo Pit Crazies,
“Higher for longer” or so says the Fed below. That also gave the market a late day boost to finish in the black for Wednesday. No rate change means more certainty going forward but I would think this takes rate cuts off the table for at least through the summer. Biden spending even more money on canceling student debt does not help the inflation picture either so government spending is still out of control. See the WSJ notes on this below:
But really the market wanted to wait for Nvidia Corp (Ticker: NVDA). They got what they wanted. NVDA really jumped on massive revenue growth.
There is nothing like an earnings catalyst to get the animal spirits running.
How will this affect the broad market? Let’s take a look.
What holds volatility up now?
VIX is 15.34. That was before NVDA earnings came out. What holds VIX up now with 30 day realized vol at 11.47.
SPX 10 Day chart
There is nothing like an earnings catalyst to get the animal spirits running.
How will this affect the broad market? Let’s take a look.
What holds volatility up now?
VIX is 15.34. That was before NVDA earnings came out. What holds VIX up now with 30 day realized vol at 11.47.
To Your Trading Success,
-AG
Andrew Giovinazzi
30-Year Trading Pro
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