The day started gaping higher and manage a sizable recovery until the bullishness reversed once the Fed statement came out. In the end it was a flat day. Volume was below average.

S&P 500 Index 5min Chart

-

S&P 500 SPDRs 5min Chart

Despite the weakness in home numbers market was in the mood to rally and it did so until the fed statement came out giving bears ammunition and control of the day which ultimately resulted in a flat day.

S&P 500 Index Daily Chart

Filed under:
Market by LtPinback | Permalink | Share This