FED MINS
Markets sell off on the Fed Minutes with key points being inflation not declining and growth moderating.
Anyone watching the interday action on the major indexes should have seen the action pretty clearly- a steady march from support to resistance and a gap fill all in a few hours. The NAZ started the rally and was quickly followed. I will bet (trade) that this dip is also quickly bought.
One item on the trading radar remains the SPX monthly resistance at the 1,354 area. It has been knocked on a few times already, my guess is that it won't be long before it becomes support.
Anyone watching the interday action on the major indexes should have seen the action pretty clearly- a steady march from support to resistance and a gap fill all in a few hours. The NAZ started the rally and was quickly followed. I will bet (trade) that this dip is also quickly bought.
One item on the trading radar remains the SPX monthly resistance at the 1,354 area. It has been knocked on a few times already, my guess is that it won't be long before it becomes support.
posted by DAVID at
2:15 PM
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