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Deep, Post-FOMC Losses

Discussion in 'Technical Analysis' started by FXStreet_Team, Dec 18, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The stock market indices suffered big losses today, and gave back all, and then some, of yesterday's gains, supposedly, post FOMC. The day started out with a move to the upside, and that was it. The Nasdaq 100 dropped from 4680 to 4614, and the S&P 500 went from 2076 to 2047. Midday they tried to rally, formed bear wedges, and rolled over. They bounced in the last hour, and with 20 minutes to go, they dropped right down to the triple bottom, and closed at the session lows. Net on the day,

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