For FullyInformed USA Members here is the intraday chart analysis for the morning of Mar 17 2015 to 11:40
The outlook for the market direction today, depended on the Fed Meeting. The opening this morning though was impacted by the continued drop in oil, tensions in Russia and worries that the Fed may in fact begin to raise rates in June are all back on investors’ minds this morning. Yesterday the belief was the Fed would have to wait until September. New surveys show analysts are split almost equally between June and September. Also on investors’ minds is the news that a survey by Bank of America’s Merrill Lynch Fund Survey show fund managers are underweight US securities this month versus an increase in February of roughly 6%. The drop in fund managers holding US securities is the highest since January 2008 and could account for the declining volume numbers which I have been mentioning since the start of March.
Intraday Chart Analysis – Morning – Mar 17 2015
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