27 July 2016

SP 500 and NDX Futures Daily Charts - Risk On As the Fed Coos Short Term Dovishness

Stocks caught a serious bid after the Fed announced they were doing nothing today.

They did change some of their wording, with the intent of smoothing the way for a possible rate hike in September.

That is getting a little close to the election, but I think that all things considered they have one more rate hike in their bag of tricks, and if not September then December, but that delay adds risks of missing the opportunity.

After the bell Facebook beat its numbers adding further fuel to big tech which was leading the way higher today compliments of Apple.

Have a pleasant evening.