What Have I Been Thinking

I don't know if what I'm thinking is right or wrong but I find us in a similar situation to where we were back in early May.  May 10th, the FOMC announced a 25 basis point hike and the dollar declined for a couple of days following the announcement before making a healthy 50 - 60% retrace.  Last week, the Fed announced another 25 basis point hike and kept a similar statement regarding the future of interest rates.  So where do we go from here?

• Will we get a minor correction (as we've seen the last couple of days) and then further dollar weakness pushing prices down to mid-May levels?
• Will we get a renewal of dollar strength and see levels push to early April levels?
• Will we get neither of these scenarios and just furthur consolidation?

Similar to what the FOMC are doing, we have to keep on top of economic releases.  We have the Non-farm payroll release on Friday which is a huge market mover and may be the lighter fluid or not.

The bottom line is I don't know what is going to happen.  I haven't read any "expert" commentary on any of this because I like to make my own assessment first.  Thinking about stuff like this helps in keeping you sharp on the possible scenarios that could occur.  I also firmly believe that it's beneficial to your future if you make your own choices without listening to outside noise.  I'm not saying to totally dismiss others words or recommendations but I try to keep the influence that this has on me to a minimum.   

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