Expected Fed rate hike of 25 basis points on 9/17 90% probability of a rate hike in September is weighing on the market Next week will inevitably see a continued downward trend Monday: Fake pump breaking above 4400 Tuesday afternoon: Start of a choppy decline to 4300 Wednesday late night: Rate decision announced, bullish news priced in Followed by an oversold rebound to 4400 2:30: Walsh press conference, dot plot released simultaneously Walsh’s ultra-hawkish remarks, guessing the dot plot will shift upward Clear indication that more rate hikes are coming, hike hike hike hike hike Market estimates at least two more rate hikes this year Signaling the start of a new rate hike cycle—don’t hold onto false hopes The market is entering a sustained bearish mode Only when rate hikes stop and inflation is brought down Can the market rise healthily Under the shadow of rate hike expectations Next week, logically speaking, we’re looking at new lows Right now, the entire market is waiting for the rate hike to land and for what they’ll say Will there be another hike in October or what?