For FullyInformed USA Members here is the intraday chart analysis for the afternoon of Apr 8 2015.
With the Fed minutes out of the way, the market is basically trending sideways as it heads into the close. Right now it is up to Alcoa to push the markets up or down. The Fed minutes in general were fairly dovish on the raising of interest rates but there should be a rate increase this year. Although there is a lot of evidence the Fed wants to raise rates in June, my personal prediction is fall of 2015 at the earliest. A lot still depends on what the economic numbers show and at present they continue to point to an expanding economy. The Fed wants to normalize rates a bit. Even a quarter of a percent will get them started and that seems to be their outlook.
Here is what the afternoon intraday chart is telling investors about the close for today.
Intraday Chart Analysis – Afternoon – Apr 8 2015
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