I am sorry for not posting a NASDAQ market preview today, but I'm rushing off to attend the semi-annual meeting of the Shadow Open Market Committee, which is a group of academics, economists, and former Fed officials and staff who critique the Fed FOMC. I've been attending as an observer for about 15 years now. The keynote speaker will be John Taylor of Taylor Rule fame. It's always enlightening to listen to and talk with these guys. It may not earn me big profits in the stock market, but it helps me sleep at night.
I am wondering if the stock market will be able to survive today without me - it could happen. I may do some trades late in the day after the meeting concludes.
Besides, as I said before, it will take a few days for the markets to fully digest the Fed meeting and try to get back to something resembling an underlying trend (with plenty of froth piled on top, of course.)
-- Jack Krupansky