Let's get ready to rumble!
Just a quick blurb before we play in the fray. With yesterday's semantics sparking a low level rate debate, keep half an eye on the fixed income markets and the rate sensitive equity issues. Elmer's espousal jerk kneed the home builders, banks and brokers (lower high) and if (monster if) there is gonna be a spark in the dry forest, it should ember here. Toss BKX 915 on your trading radar, if and when, as it'll break a triple bottom in point & figure work. Conversely (or should I saw perversely), BKX 960 would break a triple top.
Also, the only other time this year (June 26) that the Minx ended blue, er, red during an FOMC day, the following session was higher (S&P +1.08%, NDX +2.21%). I've now heard this three times so, for whatever it's worth, traders are talking it up.
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