Very Spectacular Surge Back

Discussion in 'Technical Analysis' started by FXStreet_Team, Oct 9, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The stock market indices had a very interesting session. The Nasdaq 100 made a 5-wave move down as it was under pressure with the Nasdaq generals, dropping back from 4335 to 4275, a 50-point drop. The S&P 500, however, held rather well and consolidated nicely without breaking support, and not confirming the new lows on the NDX. As a result, after the FOMC meeting, and the announcement that they would not raise rates, the market exploded sharply, taking the Nasdaq 100 from 4275 to 4358,

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