Yesterday was fun, huh?

Ahead of the Fed announcement, the Dow Jones exploded to a high of 34,803.  Then, about an hour after Jerome Powell spoke, the Dow decided it would pull back 130 points.

All after the central bank indicated we could see an interest rate hike by March 2022.  Fed Chairman rattled markets further by saying the Fed has “quite a bit of room” to raised rates before negatively impacting employment, as noted by CNBC.

So, along with an announcement that should have given markets clarity, we’re back to having no clarity at all.  

“While offering some clarity on how the Fed would begin the process of removing policy accommodation, the outcome of the meeting fell short in providing the needed guidance on the timing and magnitude of the shift in policy,” said Charlie Ripley, senior investment strategist for Allianz Investment Management, as also noted by CNBC.

Markets will also get Q4 GDP, durable goods orders, and weekly jobless claim numbers at 8:30am EST.  Economists believe the economy grew at a 5.5% clip. 

If you’re looking for opportunity…

Keep an eye on Netflix (NFLX).

For one, the stock is now oversold on RSI, MACD, and on Williams’ %R.  Two,  Bill Ackman’s Pershing Square just bought over 3.1 million shares of the stock, as announced just last night.

“We recently purchased more than 3.1m shares of Netflix which makes us a top-20 holder. I have long admired Reed Hastings and the remarkable company he and his team have built. We are delighted that the market has presented us with this opportunity,” Ackman tweeted.

In pre-market, NFLX is up $17.05 a share, or 4.74%.