Harker reminds markets of the hawkish side

Let's face it.... the markets are really sensitive and that leads to weak hands on the upside and the downside.

Fed's Harker brought the markets back to reality saying that inflation will be around 4% next year and 2024 at 2.5%. Both are probably above the bulls expectations who see inflation moving down.

Josh Brown, put things into perspective on CNBC saying a year ago, we could draw a picture of an ape and sell it for $600,000. That was the money sloshing around. So... yes the story line has changed and so has the markets sensitivity to the ebbs and flows.

The S&P is trading back in negative territory now at 3691.72. That index is still up on the week and also above the 200 week MA at 3606 area.

The Nasdaq NASDAQ The Nasdaq Stock Market or NASDAQ is an American stock exchange. It trails only the New York Stock Exchange (NYSE) in market capitalization and is part of a network of stock markets and options exchanges.Launched back in 1971, NASDAQ is the acronym for the National Association of Securities Dealers Automated Quotations. Since then it is known simply as NASDAQ and has become one of the most influential exchanges worldwide.The NASDAQ was the world’s first electronic stock market, and has since ass The Nasdaq Stock Market or NASDAQ is an American stock exchange. It trails only the New York Stock Exchange (NYSE) in market capitalization and is part of a network of stock markets and options exchanges.Launched back in 1971, NASDAQ is the acronym for the National Association of Securities Dealers Automated Quotations. Since then it is known simply as NASDAQ and has become one of the most influential exchanges worldwide.The NASDAQ was the world’s first electronic stock market, and has since ass Read this Term is at 10706, up 26 points ro 0.34%, but well off the high at 10837.

The Dow is up 68 points at 30491 after trading as high as 30823.

The 10 year yield is at 4.182%, up 5.3 basis points.

In the forex,

• The EURUSD EUR/USD The EUR/USD is the currency pair encompassing the European Union’s single currency, the euro (symbol €, code EUR), and the dollar of the United States (symbol $, code USD). The pair’s rate indicates how many euros are needed in order to purchase one dollar. For example, when the EUR/USD is trading at 1.2, it means 1 euro is equivalent to 1.2 dollars. Why the EUR/USD is the Most Popular Trading PairCompared to all tradable currencies, the euro (EUR) is the world’s second most traded currency, be The EUR/USD is the currency pair encompassing the European Union’s single currency, the euro (symbol €, code EUR), and the dollar of the United States (symbol $, code USD). The pair’s rate indicates how many euros are needed in order to purchase one dollar. For example, when the EUR/USD is trading at 1.2, it means 1 euro is equivalent to 1.2 dollars. Why the EUR/USD is the Most Popular Trading PairCompared to all tradable currencies, the euro (EUR) is the world’s second most traded currency, be Read this Term is back retesting the key 100 hour MA at 0.9798. The current price is at 0.9802
• The GBPUSD has moved back below its 100 hour MA at 1.1277. The price trades at 1.1254.
• The USDCAD which reached into a lower swing area between 1.3637 to 1.3666 is back at 1.3725 and retesting the 50% of the October range at 1.37397