Thursday Outlook: Post-Fed Wipeout
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Big Wednesday, Sandy Beach, Oahu.
With markets short-term oversold, bulls were looking for any catalyst to spark a rally. Although the Fed said nothing, nothing was all it took to get things going. But, as we got on after the announcement, what rally we had—save tech—fizzled.
Volume was healthy and breadth remained positive.
click to enlarge
Naturally, positive breadth data revived the McClellan Oscillator.
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