Responses to FOMC Decision on the Fed Fund Rate
As expected, the FOMC maintained its Fed Fund Rate at 3.75%-4.00%. Market responses after the announcement at 2:00 PM EDT were as follows:
S&P 500 was virtually unchanged
Yield on 10 year Treasuries increased slightly. Conversely, the price on long term Treasuries dropped slightly.
The U.S. Dollar moved slightly lower.
Conversely, the Canadian Dollar moved slightly higher.
Technical Notes
NYSE Biotech ETF (FBT) moved above $275.23 to an all-time high extending an intermediate uptrend.
Agribusiness ETF (MOO) moved below $80.39 and $80.29 completing a Head & Shoulders pattern.
Booking (BKNG) a NASDAQ 100 stock moved below $149.40 extended an intermediate downtrend.
GE Healthcare (GEHC) an S&P 100 stock moved above $75.61 extending an intermediate uptrend.
Trader’s Corner
Equity Indices and Related ETFs
Commodities
Sectors
Links offered by valued providers
Q3 Earnings: Opportunities and Risks: Tom Bowley
Q3 Earnings: Opportunities and Risks – YouTube
Beyond 60/40: Structured Income ETFs and the Risks Behind the Yield: Dave Keller
Beyond 60/40: Structured Income ETFs and the Risks Behind the Yield – YouTube
S&P 500 Momentum Barometers
The intermediate term Barometer dropped 2.80 to 58.80. It returned to Neutral from Overbought on a drop below 60.00.
The short term Barometer (20 days) dropped 2.20 to 70.60. It remained Overbought.
The long term Barometer slipped 0.40 to 61.00. It remained Overbought.
TSX Momentum Barometers
The intermediate term Barometer slipped 0.93 to 51.16. It remained Neutral.
The short term Barometer dropped 2.33 to 56.74. It remained Neutral.
The long term Barometer dropped 2.33 to 50.70. It remained Neutral.
Disclaimer: Seasonality ratings and technical ratings offered in this report and at
www.equityclock.com are for information only. They should not be considered as advice to purchase or to sell mentioned securities. Data offered in this report is believed to be accurate, but is not guaranteed.
|
|
Equity Clock Publications