The indexes of all pullback to the T-line today. It would now be important to see whether the T-line acts as support from here. This is expected profit-taking after the buying going into the Fed meeting. The T-line will be an important factor for analyzing whether this is merely profit-taking or now that the rate hike has been implemented, is investor sentiment now looking to what the next economic factors will be. A close near the lower end of today’s trading range will continue to put the sideways mode of the market in place versus a potential breakout of the upper resistance level.
December 17th Dail Market Comments
The indexes of all pullback to the T-line today. It would now be important to see whether the T-line acts as support from here. This is expected profit-taking after the buying going into the Fed meeting. The T-line will be an important factor for analyzing whether this is merely profit-taking or now that the rate hike has been implemented, is investor sentiment now looking to what the next economic factors will be. A close near the lower end of today’s trading range will continue to put the sideways mode of the market in place versus a potential breakout of the upper resistance level.