Market internals issued their fully bearish signal on Jan 22. Our readers had 2 days of warning, then came the sell-off that started on Jan 24.
FOMC announcement is tomorrow Wed Jan 29 at 2 PM EST. Stock market will likely go into a wait-and-see mode prior to announcement, but post announcement we are likely to see the resolution of the current drop.
Will the Fed announcement finish the current medium dip and enable Surge10 to resume, or will it trigger a bigger sell-off that turns the medium dip into Major Pullback4?
There is a fairly reliable way to determine this.
The full article covers:
Market Internal Indicators
Short-term Support & Resistance Levels
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