![]() In his prepared remarks, Powell stopped short of providing a clearer picture regarding the timing of the central bank's tapering of asset purchases or hiking interest rates, the key elements of its dovish monetary policy aimed at helping the economy recover from the pandemic recession. The drawdowns are super shallow, and the recoveries are very fast." ![]() ![]() Regarding the indexes' recent string of all-time highs, including the S&P 500's 52nd record high close so far this year, Zigmont said "The march north has been very consistent. "I see a reflexive dip-buying validation and I see the market embracing a dovish Fed." "I see two things happening," said Mike Zigmont, head of research and trading at Harvest Volatility Management in New York.
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