FOMC announcement was a non-event today. From WSJ:
“The Federal Reserve held its benchmark interest rate steady and signaled no appetite to raise it anytime soon…. Fed officials indicated comfort with leaving policy on hold through next year, while keeping an eye on economic data.”
Market participants decided to celebrate by buying. $SPX $NDX $RUT all rose a bit after not doing much earlier in the day. The mood has turned from uncertain and cautious to bullish.
Does this mean that Surge10 is starting? We will drill down into that question below.
The full article covers:
Support & Resistance Levels
Market Internal Indicators
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