/biz/ - Business & Finance

>>50603048
Price action now looks a lot more promising than it did in the previous FOMC. 3 month chart shows that people think the bleeding is stopping given the nice buffer in the value area. The 1 and 10 day comparisons show a likely pull back, but I don't think it happens until we crab in the 410 range for a while. Of course, this GDP print is likely to throw a wrench in things. Pic attached are the same charts backed up to June 15 when last FOMC was. Things looked way worse with a lot of chunky bars above the price, ultimately causing lots of share dumping.
All said this is still just price action analysis. Macro conditions and day to day surprises throw a log of this reasoning out the window.