Hello Everyone,
FOMC Decision: The Fed held rates the same but weren't as dovish as Wall Street would have liked. Initially, the market fell hard but then recovered in a v-bounce that enabled the Nasdaq to go back to its highs, while the SPX closed slightly positive, and the Dow and Rut closed down. The sharp pullback after the FOMC had price fall into a support zone, which held. Remember, liquidity is still positive and that's really all that matters with the market is liquidity.
For the day, the Nas 100 moved up 0.7%; the Nas 0.4%; and the S&P 100 0.2%. The Russell 2000 dropped 1.2%, and the Dow fell 0.7%. The S&P 500, Russell 1000 and Russell 3000 closed close to unchanged.
Remember we have a 3 day weekend with the market closed on Monday -plan something fun!!!
Matt
